Usually, fraud is detected only after one such incident takes place. And, companies take preventive measures to stay protected in the future. However, with the upsurge of digitisation and technology, fraud detection and prevention have become common. Artificial Intelligence has a wide range of applications from stock trading to credit card fraud detection and more.
AI is primarily used for task automation, behaviour analysis, customer services, and fraud finding. And, several VCs and investors are making large-scale investments in companies that specialise in AI. Without further ado, here is a list of fast-growing fraud detection startups in Europe that are worth your attention in 2020 as sourced from Dealroom.