American Express uses AI for ultra low latency fraud detection in credit card transactions.
American Express
Fraud Detection
Credit and bank cards are a major target for fraud. To thwart fraudulent activity, American Express, which boasts over 115 million active credit cards and handles more than eight billion transactions a year, leverages deep learning through the NVIDIA GPU computing platform.
American Express uses advanced, long short-term memory (LSTM) models to detect anomalous patterns in transactions. Models are trained on NVIDIA DGX™ for faster time-to-market, optimized with NVIDIA TensorRT™, and served with NVIDIA Triton™ Inference Server for high performance in production.
American Express implemented this enhanced, real-time fraud detection system to improve accuracy, and better protect customers and merchants. The system operates within a tight two-millisecond latency requirement and delivers a 50X improvement over a CPU-based configuration, which failed to meet their goal.
A GPU-accelerated LSTM deep neural network, combined with their long-standing gradient boosting machine (GBM) model—used for regression and classification—has improved fraud detection accuracy in specific segments.
Results
American Express is a leading issuer of personal, small business, and corporate credit cards. The company’s travel-related offerings include traveler’s checks, credit cards, corporate and personal travel planning services, tour packages, and agencies for hotel and car-rental reservations. American Express handles more than eight billion transactions a year.
“Our fraud algorithms monitor, in real-time, every American Express transaction around the world for more than $1.2 trillion spent annually, and we generate fraud decisions in mere milliseconds. Having our card members’ and merchants’ backs is our top priority, so keeping our fraud rates low is key to achieving that goal. Especially in this environment, our customers need us now more than ever, so we’re supporting them with best-in-class protection and servicing.”
Vice President of Machine Learning and Data Science
American Express