Capital One Exec has been Appointed as the Head of AI and R&D of Fraud Elimination Leader Vesta

Melby's hiring, and the subsequent creation of the Vesta AI Lab, come at a critical time in machine learning, AI, and fraud prevention: fraudsters have increasingly shifted their concentration to digital attacks given the rise of e-commerce during the pandemic, whether through card-not-present fraud or account takeovers.

FREMONT, CA: Vesta, a global leader in card-not-present (CNP) fraud prevention and approval enhancement solutions, has declared it has tapped industry veteran Paul Melby to serve as Senior Vice President, Artificial Intelligence and R&D. His duties will be responsible for overseeing the company's machine learning and data science teams focused in Approval and Fraud Operations, and also building Vesta's new AI Lab, which will boost Vesta's next generation of AI-driven fraud detection solutions.

Melby joins Vesta with more than 15 years' experience in data engineering and data science, most recently leading Capital One's Fraud Data Science team. Under his leadership, the team introduced several innovative data science products, including a machine learning-based transactional fraud model and interactive graph analysis software that is utilized by hundreds of fraud and anti-money laundering investigators at the company today.

"As the world's only fraud prevention platform using machine learning trained on 25 years of global data, Vesta is uniquely poised to advance machine learning and AI for fraud prevention and more importantly for our customers, maximum approval rates on an international scale. Paul's experience makes him ideal for leading this charge," stated Ron Hynes, CEO of Vesta. "With him overseeing our new AI Lab and helping the company continue to advance our machine learning expertise, fraudsters won't stand a chance and our customers will know they are getting the utmost they can from approvals."

Melby's hiring, and the subsequent creation of the Vesta AI Lab, come at a critical time in machine learning, AI, and fraud prevention: fraudsters have increasingly shifted their concentration to digital attacks given the rise of e-commerce during the pandemic, whether through card-not-present fraud or account takeovers. Vesta's data science team constantly pushes the limitations of how machine learning and AI are utilized in concert to stay ahead of fraudsters' evolving tactics, enabling customers to scale their businesses with confidence.