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How TODO1 Services mitigated transactional fraud using KNIME

Financial ServicesData ScienceFraud & Risk Management
100%improvement in fraud detection rates
100 millisecondsaverage fraud detection time
650+ milliontransactions managed with no downtime

TODO1 built an anti-fraud profiler to deal with transactional fraud mitigation in the digital interactions between financial institutions and their customers.

The requirements:

  • One platform to accomplish everything, including REST API support
  • Self-documenting to ensure transparency of processes
  • A good price

The challenges:

  • Fraud data is hard to get
  • Real-time responses are difficult to achieve (<100ms)
  • Downtime was not an option

The set-up:

  • Running load balancer
  • 4 x KNIME Server Large
  • Rabbit ML
  • 2 x KNIME Executors

The results:

With the system in production in the cloud and fully operational within 3 months it accomplished:

  • 650+million transactions with no downtime.
  • Overall improvement of +100% fraud detection rates
  • Round trip median time of approx. 100 ms. (That’s impressive!)
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