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How the Firm Behind Many Store Credit Cards Is Using AI to Fight Fraud

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Synchrony CIO Carol Juel

"We had to build data centers. We designed them in a way that allowed us to organize our data very specifically."

There's one company behind many plastic credit cards stuffed into wallets and bearing the names of retailers including, Gap, JCPenney, and Lowe's: Synchrony Financial of Stamford, Conn., one of the world's largest issuers of store credit cards.

It's been five years since Synchrony spun off from its parent company, General Electric, and since then it's been building a digital strategy that uses artificial intelligence and machine learning. Synchrony now deploys AI to speed up everything including credit approvals and fraud detection. Chief Information Officer Carol Juel has led the undertaking. She discussed the competitive advantage AI gives the company in an interview.

From Chicago Daily Herald
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