The AI in Business Podcast AI’s Role in Fraud and Credit Risk - with Shrimanth Adla of Comcast
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Dec 18, 2024 Shrimanth Adla, Senior Director of Credit Risk at Comcast, dives into the complexities of managing credit and fraud risks in retail and telecom. He discusses the unique challenges these industries face and how AI can help differentiate between genuine credit issues and deceitful fraud attempts. Shrimanth highlights the need for a tailored approach to assess customer creditworthiness while maintaining strong relationships. His insights on balancing technological advancements with human oversight offer a fresh perspective on risk management strategies.
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Intent Differentiates Fraud and Credit Risk
- The key difference between fraud and credit risk lies in the customer's intent.
- Fraudsters have malicious intent from the start, while credit risk arises after service use, often without initial malice.
Data in Fraud vs. Credit Risk
- Credit risk is identified after a customer uses a service and shows risky payment behavior.
- Fraud risk relies on pattern recognition and identity information, while credit risk uses payment and spending data.
Converged Risk Assessment Platform
- A single data source can assess both fraud and credit risk, creating a converged platform.
- However, heavy regulations require careful balance to avoid harming customer credit profiles.