Advancing Fraud Detection in Banking: Integration of Data Pipelines, Machine Learning, and Cloud Computing

Sudheer Chennuri

doi:10.36948/ijfmr.2024.v06i06.29893

Advancing Fraud Detection in Banking: Integration of Data Pipelines, Machine Learning, and Cloud Computing

Author(s)	Sudheer Chennuri
Country	United States
Abstract	This article examines the transformation of fraud detection in the banking sector through the integration of advanced data pipelines, machine learning (ML), artificial intelligence (AI), and cloud computing technologies. We analyze how modern data pipelines enable real-time processing of vast transactional datasets, significantly improving the timeliness and accuracy of fraud detection. The article explores the application of ML models in identifying suspicious patterns and the role of AI-driven systems in continuously adapting to evolving fraud schemes while reducing false positives. We evaluate the impact of cloud platforms such as AWS, Azure, and Google Cloud in providing scalable, cost-efficient infrastructures for processing massive datasets and supporting seamless integration with ML models. The article presents case studies of successful implementations by major banks, demonstrating substantial reductions in processing times and improved detection efficiency. Additionally, we address key challenges including data quality maintenance, model interpretability, and false positive mitigation. The article concludes by discussing future innovations such as Federated Learning and Explainable AI (XAI), which promise to enhance cross-institutional collaboration and decision-making transparency in fraud detection. This comprehensive analysis provides valuable insights for financial institutions seeking to enhance their fraud detection capabilities in an increasingly complex digital landscape.
Keywords	Keywords: Fraud Detection, Machine Learning, Data Pipelines, Cloud Computing, Artificial Intelligence
Field	Computer
Published In	Volume 6, Issue 6, November-December 2024
Published On	2024-11-05
Cite This	Advancing Fraud Detection in Banking: Integration of Data Pipelines, Machine Learning, and Cloud Computing - Sudheer Chennuri - IJFMR Volume 6, Issue 6, November-December 2024. DOI 10.36948/ijfmr.2024.v06i06.29893
DOI	https://doi.org/10.36948/ijfmr.2024.v06i06.29893
Short DOI	https://doi.org/g8qfv4

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Advancing Fraud Detection in Banking: Integration of Data Pipelines, Machine Learning, and Cloud Computing

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