d3nt

More details in this tweet thread: https://twitter.com/ashleevance/status/1726469283734274338

Tweet that confirms the story from a reputable Bloomberg reporter (Emily Chang): https://twitter.com/emilychangtv/status/1726468006786859101

Yes, they get the scoop on many Silicon Valley news stories

It's an incentives problem, not a technology problem. In the United States, interchange is one of the main sources of revenue both for card issuers (both debit and credit). Even though card network rails have their flaws (e.g. fraud, settlement speed, cost), it's unlikely that major banks will adopt another system unless it's as lucrative, or until there's regulatory action that forces them to do so.

Broadly speaking, what approach do you use to "build simpler 'explanation models'" from the more complicated "core fraud models"? Do you learn the models separately over the training data, or does the more complicated model somehow influence the training of the simpler model?