How EVO Banco Is Reinventing Fraud Prevention with Data Streaming & Machine Learning

EVO Banco, a 100% digital banking model in Spain's financial services industry, aims to create modern banking solutions that simplify customers' lives while using innovative technology. To achieve this goal, the bank chose Confluent Cloud for its data infrastructure and uses it to manage large volumes of data in real-time, delivering a better customer experience. EVO Banco's Chief Data Officer, Jose Enrique Perez, discussed how the bank uses machine learning to prevent fraud and improve the customer experience in real-time with Confluent's Duncan Ash. The bank is using Confluent Cloud to power its advanced fraud detection system, which combines behavior analysis, data analytics, and predictive modeling to protect against financial crime without compromising the customer experience. By adopting Confluent Cloud, EVO Banco has significantly increased the accuracy of its fraud algorithms and reduced reaction times to just seconds, blocking an average of 500 fraudulent transactions daily and reducing weekly fraud losses by 99%.

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