Financial fraud is evolving fast. In 2025, global payment fraud losses are projected to exceed $40 billion, driven by increasingly sophisticated digital attacks and rapid growth in online transactions[1]. For banks, fintechs, and payment processors, the stakes are high: a single missed threat can mean lost revenue, regulatory penalties, and damaged trust. As fraudsters adapt, so must the tools that defend against them. AI-powered fraud detection platforms are now at the center of this fight, offering a new level of speed, accuracy, and adaptability.
Payment platforms and fintechs face relentless pressure to onboard merchants quickly, process transactions smoothly, and keep fraud at bay. Manual reviews and legacy systems often fall short, leading to:
AI-driven fraud detection platforms address these pain points by automating risk assessment, learning from new fraud patterns, and reducing the need for manual intervention[1].
A 2024 industry survey found that over 70% of fintechs now use AI for transaction monitoring and fraud prevention, up from just 45% in 2022[2]. This shift reflects the growing recognition that traditional rule-based systems cannot keep pace with modern threats.
“AI-powered fintech fraud prevention solutions not only enhance fraud detection accuracy but also reduce reliance on human resources.”[2]
AI fraud detection platforms combine several advanced technologies to deliver real-time protection:
Example: A payment processor uses an AI platform to flag a sudden spike in high-value transactions from a new merchant. The system automatically pauses suspicious payments and alerts the risk team for review.
AI models improve over time by learning from new fraud attempts and legitimate transactions. This reduces false positives and helps platforms stay ahead of evolving threats[1].
A simplified version of a transaction risk score might look like:
[ \text{Risk Score} = w_1 \times \text{Transaction Amount} + w_2 \times \text{Merchant History} + w_3 \times \text{Location Anomaly} ]
where ( w_1, w_2, w_3 ) are weights learned by the AI model.
Fast, accurate merchant onboarding is critical for sustainable growth of a merchant portfolio. AI-powered platforms automate Know Your Business (KYB) checks, analyze business data, and assess risk in seconds. This reduces manual workload and speeds up time to revenue.
Once merchants are onboarded, ongoing monitoring is essential. AI platforms track every transaction, flagging suspicious patterns and adapting to new fraud schemes in real time[1].
Insight: Allocating resources to AI-driven fraud detection ensures stronger cybersecurity, better risk assessment, and improved customer trust in digital financial services[1].
Selecting the right fraud detection platform means evaluating several criteria. Here’s how Coris stands out in the market:
Coris combines deep merchant data intelligence with advanced fraud detection models and customizable rules. This enables software platforms, payment processors, banks, and fintechs to automate onboarding, underwriting, and transaction monitoring throughout the merchant lifecycle.
Coris offers a robust API that integrates seamlessly with existing systems. This allows clients to automate risk workflows without disrupting their current operations.
Callout: Continuous learning and automation are key to staying ahead of fraudsters and protecting profits.
Cloud-native platforms enable faster deployment, easier updates, and scalable processing power. This supports real-time fraud detection even as transaction volumes grow[3].
Modern AI tools do more than detect fraud after the fact. They predict emerging fraud scenarios and help businesses address risks before losses occur[3].
AI-driven platforms automate AML and KYC compliance, reducing the risk of regulatory penalties and streamlining audits.
AI-powered fraud detection platforms are now essential for banks, fintechs, and payment processors that want to protect profits and build trust. By automating merchant onboarding, underwriting, and transaction monitoring, solutions like Coris help organizations stay ahead of fraud, reduce costs, and meet compliance demands. As fraud tactics evolve, continuous learning and adaptive AI models will define the future of risk management.
To see how Coris can help your business automate risk workflows and improve fraud defense, request a demo or explore Coris’s API documentation. Protecting your profits starts with smarter, faster fraud detection.