Prakash Verma

Prakash Verma

Extensive experience in Payments Industry and various Payments Fraud Detection Systems.
General Engineer • Financial
Delhi, India
  • Software Development
  • Credit Card Processing
  • Credit Risk
  • Payment Systems
  • Payments

Co-Founder @FrauShield • Co-Founder

Identifies fraudulent transactions real time in online e-commerce industry.

Amazing things Prakash's made
1. I was responsible for the Apple Pay implementation in my organization. Apple Pay uses most of the latest payments security features like tokenization, biometrics and NFC integration to make payments more secured. Apple Pay was launched in USA in OCT 2014 and it was immensely successful. Our team was well appreciated for a successful implementation from all the stake holders.

2. Built a new behavior score to identify when a legitimate transaction is being made by a customer. This score, when used in combination with existing fraud scores, allowed incrementally better detection of some fraudulent transactions resulting in a reduction in losses. The Fusion Score is a customer level score, developed to provide a fraud score to measure real time transactions against normal behavior for that customer.
• We achieved 35% overall decrease in false positives resulting in $18 M annual savings in expenses.
• Fraud losses decreased by 2% or $9 M.