What Technologies are Used in Transaction Monitoring?
Transaction monitoring relies on various technologies to ensure effective detection and prevention of suspicious activities:
Artificial Intelligence (AI) and Machine Learning (ML): AI and ML algorithms can analyze vast amounts of data quickly and accurately, identifying patterns and anomalies that may indicate suspicious activities. Big Data Analytics: The use of big data analytics allows businesses to process and analyze large volumes of transactional data in real-time. Blockchain: Blockchain technology provides a secure and transparent way to record and verify transactions, making it easier to detect and prevent fraudulent activities. Cloud Computing: Cloud-based solutions offer scalable and flexible transaction monitoring systems that can be easily integrated with existing business processes.