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Rancho Cucamonga, Calif.-based CO-OP Financial Services intends to implement artificial intelligence to fight fraud, with a machine learning-based risk management tool for its client credit unions later in 2017.

“A key pain point for credit unions in 2017 is that fraud mitigation tools have not kept pace with the relentless advance of fraud,” Todd Clark, President/CEO of CO-OP said. “CO-OP Financial Services has an equally relentless commitment to credit union and cardholder security. We are investing $20 million this year on new innovations to ensure credit unions have access to the very best technology in the payments industry. Implementing machine learning capabilities is a key initiative in delivery on that promise.”

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Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).

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