Oscilar Unveils Industry-first Generative AI Capability for Fraud Prevention

Sachin Kulkarni, Oscilar Co-Founder and Chief Technology Officer
Sachin Kulkarni, Oscilar Co-Founder and Chief Technology Officer

(US and Canada) Oscilar, the AI fraud detection company co-founded by Confluent co-founder Neha Narkhede and former Meta engineering executive Sachin Kulkarni, yesterday unveiled an industry-first generative AI risk decisioning offering that enables companies to manage credit, fraud, and compliance risks with greater velocity and precision than ever before. This advancement, which was announced onstage at Money20/20, makes the Oscilar the first generative AI risk management company.

"Even the most well-funded companies struggle to keep up with the increasing pace and sophistication of fraud schemes, which led to more than $9 billion in losses last year," said Oscilar Co-Founder and Chief Technology Officer Sachin Kulkarni. "Our newest AI Risk Decisioning solution, radically expedites risk decision-making, greatly reduces human effort spent on manual decision-making, and establishes scalable fraud programs that operate with greater efficiency and effectiveness. Oscilar empowers risk operators to tackle complex fraud and risk problems at scale from multiple dimensions."

Oscilar's AI Risk Decisioning solution differs from current fraud and risk tools because it scours data from the most comprehensive open and closed sources, builds fraud knowledge on top of it, and uses AI to bring this information together in a unified way. As a result, Oscilar, equipped with context-aware conversational AI, automatically recognizes potential fraud patterns, allows you to do root cause analysis, and makes recommendations on how to address risk in real-time through a natural language interface.

Customers are now able to harness the power of generative AI to more effectively manage risk across every customer touchpoint. By integrating Oscilar AI, state-of-the-art LLMs, and Oscilar's risk operating system, the company offers customers the ability to unify data sources to power a 360-degree view of the user's risk profile and create a cognitive, context-aware methodology for smartly and quickly assessing risk.

Since emerging from stealth in April, Oscilar is now working with dozens of fintech's leading companies including Super, Slope, Flexcar, Finsync, and more.

"Bluescape is not just a collaboration tool; it is a springboard for innovation," said Rupen Chandra, CTO and SVP of Engineering at Bluescape. "We are excited to share what's possible with the Bluescape API including model training with Amazon Rekognition and Bedrock, Large Language Model (LLM) chat to generate superior prompts, and the ability to curate and send collections of images directly to Box."

Bluescape will be premiering these innovations and more on November 17th at the Henry Stewart Creative Operations Los Angeles 2023 event.

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