Using artificial intelligence to combat fraud in loyalty programs

The business of loyalty and reward points has undergone a significant transformation in the past few years. From a transactional model, it is now moving to an experiential model. With new-age technology coming in, artificial intelligence is now revolutionizing loyalty programs. Now companies can focus better on increasing customer happiness and retention. But like everything, this too has its cons. Loyalty programs that were simple for customer retention have now become exposed to fraudsters. To protect the integrity of these programs and safeguard both businesses and consumers, artificial intelligence (AI) is emerging as a weapon in the fight against fraud.