Oscilar Unveils Groundbreaking AI Fraud Prevention Tech to Combat $40B Threat

Oscilar Unveils Groundbreaking AI Fraud Prevention Tech to Combat $40B Threat

Oscilar, a pioneering force in AI Risk Decisioning™, has launched an innovative Cognitive Identity Intelligence Platform aimed at tackling the escalating issue of AI-powered fraud.

With AI-driven fraud expected to grow exponentially, reaching projected losses of $40 billion by 2027, Oscilar’s new platform arrives as a much-needed solution. Deloitte forecasts that these fraud-related losses, fueled largely by generative AI, will rise sharply from $12.3 billion in 2023, marking a compound annual growth rate of 32%. Current fraud detection methods, such as device fingerprinting and behavioral biometrics, are increasingly vulnerable to advanced AI attacks.

Oscilar’s Cognitive Identity Intelligence Platform introduces a game-changing approach to fraud prevention. By leveraging its proprietary “Digital & Behavior Identification” technology, the platform creates unique cognitive signatures that are nearly impossible for fraudsters to replicate. This advanced system analyzes thousands of digital markers, including network, device, and behavioral signals, to generate these signatures.

CEO Neha Narkhede, previously a co-creator of Apache Kafka and founder of Confluent, explains the importance of this development, stating, “Traditional device intelligence and behavioral biometrics can no longer keep up with the rapidly evolving techniques used by fraudsters. Our AI-first team has developed technology that fundamentally changes how organizations approach digital identity, behavior, and intent analysis in the AI era.”

The platform’s architecture is built with security as the top priority. Unlike traditional fraud detection technologies, Oscilar employs advanced polymorphic code and dynamic execution paths, making it nearly impossible for automated tools to reverse-engineer the system. This ensures that no two sessions follow the same path, providing an extra layer of protection. The platform can process over 100,000 transactions per second, adapting in real-time to emerging fraud patterns.

Key Innovations of Oscilar’s Platform Include:

  • Advanced Cognitive Signatures: These digital fingerprints are generated by analyzing numerous digital markers, making synthetic identity creation virtually impossible.
  • Security-First Architecture: Designed to prevent reverse-engineering, the system employs military-grade protection that keeps fraud detection methods hidden from attackers.
  • End-to-End Journey Protection: Oscilar provides continuous authentication across all user touchpoints, ensuring real-time risk assessment and adaptation.
  • Real-Time AI Intelligence: The system leverages generative AI to constantly update its ML models and risk strategies, staying ahead of new threats.
  • Seamless Enterprise Integration: Native compatibility with existing systems allows for rapid deployment, delivering immediate value to enterprises.

Saurabh Bajaj, Chief Product Officer at Oscilar, highlights how the company’s solution combines deep cybersecurity principles with fraud prevention expertise. “Our platform is not only highly secure, but also reduces friction for legitimate users, making it a win-win for businesses and customers alike,” Bajaj noted.

The technology is already proving its effectiveness. Financial institutions such as Happy Money and Curve are leveraging Oscilar’s platform to enhance their cybersecurity measures. Angela Kernell, Manager of Fraud Operations at Happy Money, explains, “Our mission is to empower people through responsible lending, which means safeguarding our members from fraud while maintaining a seamless user experience. Oscilar helps us strike that balance, catching sophisticated fraud attempts without impacting legitimate applications.”

With the rise of AI-powered fraud, solutions like Oscilar’s Cognitive Identity Intelligence Platform are helping companies stay ahead of emerging threats while improving the overall user experience. The system’s ability to continuously adapt and evolve makes it a critical tool for modern enterprises dealing with large-scale digital transactions.

Learn more about Oscilar’s Cognitive Identity Intelligence Platform by visiting their official blog.

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