ENHANCING BANKING FRAUD DETECTION WITH NEURAL NETWORKS USING THE HARMONY SEARCH ALGORITHM
Karthikeyan Parthasarathy · International journal of management research and business strategy. · 2023
To improve fraud detection in the banking industry, the study investigates integrating neural networks with the Harmony Search Algorithm (HSA).Advanced solutions are required since traditional procedures are frequently insufficient in the face of sophisticated fraud techniques.HSA is combined with neural networks, which are renowned for their capacity to recognize intricate patterns, to effectively optimize the settings.This study shows that fraud detection accuracy and reliability are greatly increased when neural networks' learning flexibility and HSA's optimization capabilities are combined.Findings indicate that models with near-perfect accuracy, including Decision Tree Classifier and Sequential models, have the potential to transform fraud prevention.