Summary

In this episode of the EYE ON: Fintech podcast, Kenzie Mexican speaks with Soups Ranjan, co-founder and CEO of Sardine AI, about the evolving landscape of fraud prevention in the financial services sector. They discuss the impact of AI on fraud tactics, the importance of behavioral biometrics, and how Sardine is addressing challenges like authorized push payment scams and synthetic identities. Supes shares insights on leadership in fraud prevention and the future of AI in enhancing compliance and risk management.

Takeaways

• Soups Ranjan has a PhD in electrical and computer engineering and has spent his career fighting fraud.
• Sardine AI focuses on intrinsic behavior biometric features for identity verification.
• AI is being used to streamline compliance and fraud operations, significantly reducing manual workloads.
• Behavioral biometrics can detect anomalies in user behavior that indicate fraud.
• Transparency in AI models builds trust with operations teams.
• AI can help financial institutions increase their speed to revenue by automating processes.
• Sardine's approach combines machine learning with rules-based systems for effective fraud detection.
• The use of behavioral data does not involve personally identifiable information (PII).
• Sardine's tools are designed to combat synthetic identities by cross-referencing multiple data points.
• Leadership in fraud prevention requires being hands-on and understanding team challenges.