Episode 13: From Two-Factor Authentication to Human Verification

The podcast discusses advancements in fraud detection and customer verification in finance. Initially, simple phone confirmations were used, but increasing risks have necessitated robust methods like two-factor authentication and human review for high-risk cases. The success of verification is measured by actual financial losses, not just customer confirmation. Clean data and accurate modeling are essential for improving detection systems. Emerging technologies, such as AI and voice recognition, offer new tools but also face challenges like deepfake technology. Fraud analysts play a crucial role, balancing digital alerts and human intervention based on transaction risk.