US Patent Issued to Actimize on June 23 for "System and method for determining when an update of an online fraud detection machine learning (ML) model is required" (Israeli Inventor)

ALEXANDRIA, Va., July 15 -- United States Patent no. 12,664,475, issued on June 23, was assigned to Actimize LTD. (Ra'anana, Israel).

"System and method for determining when an update of an online fraud detection machine learning (ML) model is required" was invented by Danny Butvinik (Haifa, Israel).

According to the abstract* released by the U.S. Patent & Trademark Office: "A computer-implemented method for determining when an update of an online ML model is required. The computer-implemented method includes: (i) receiving a batch of financial transactions data; (ii) selecting a set of features from the one or more features; (iii) detecting a drift and a drift type in each feature in the selected set of features, by operating a drift det...