Presentation starts: 7:00pm
Snacks and drinks provided by Spreedly!
Financial Technology (FinTech) companies, that employ technology to facilitate banking and financial services, have to deal with multi billion dollar problems such as credit card declines and fraud prevention. In fact, around $146 billion in credit card purchases are declined annually and in 2015 alone, global credit card and debit card fraud resulted in a $21.84 billion loss.
Our unprecedented ability to store, analyze and learn from huge datasets has motivated fintech companies to invest in and take advantage of data science to predict declines, identify fraudulent transactions, prevent losses and capture more revenue by reducing the number of "false declines" that result from overly zealous fraud controls.
Spreedly, a fintech company in downtown Durham, allows merchants to store and tokenize credit card information and use them against multiple payment gateways through one unique API. This positions Spreedly between merchants and payment providers and gives it a unique access to payment methods, payment gateways, and transactional data which, in turn, can be used to generate insights into the payment industry.
In this presentation, Shoresh will introduce the basic concepts in payment and discuss how the analytics team at Spreedly is using the data to tackle the billion dollar problems in financial industry.----