Motive rolls out new AI-powered to detect fraudulent transactions and reduce costs
Summary
“The expansion of this impact will be powerful for the organizations fueling the physical economy,” said Hemant Banavar, vice president of financial products at Motive. Longer-term, tools like these will make fraud a less significant issue in the physical economy overall.” Holiday periods are notorious for having a spike in cargo theft and fraudulent activities. Banavar said nearly 20% of fleet spend is lost to fraud or theft, leading to an average revenue loss of nearly $1 million per year for companies in the trucking, logistics, construction, oil and gas and other sectors. “These new features create an essential layer of security, allowing fleet managers to prevent these losses using AI-powered telematics data,” Banavar said. “Because we’re able to manage our fleet and expenses in one dashboard, we have much closer control over our operations, can stop fraud before it happens, and can better coach our drivers on fueling policies and efficiency.”
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