Revolutionizing Restaurant Financial Compliance with the AI-Powered Future | Modern Restaurant Management | The Business of Eating & Restaurant Management News

A staggering amount of money passed through restaurants every year. In the US alone, restaurant sales are forecast to hit $997 billion during 2023, according to the latest National Statistics. Restaurants process customer orders and payments, use reservation systems, deal with invoices from suppliers, run staff payroll and more. This involves them processing credit card details and handling other personally identifiable information, such as customers’ names, telephone numbers, and home addresses.

As such, restaurants are increasingly turning to AI-powered solutions such as transaction monitoring and data enrichment, to take an algorithmic, rules-based approach to screening purchases, transfers, and other business interactions. Doing so means that restaurants can ensure financial compliance, including complying with anti-money laundering and terrorism financing obligations, while also taking a robust approach to fraud detection and prevention.

Why Keeping Financial Information…

Tamas Kadar

In addition to being Co-Founder of SEON Fraud Fighters, Tamas Kadar is also the founder of Central Europe's first crypto exchange. In fact, it was serendipitous events right then that led him to start working on his own fraud prevention company, when he realized what was already on the market didn't cover his needs. Starting with the idea of utilizing digital footprints and social signals to assess customers' true intentions, SEON promises to democratize the fight against fraud. Today, the company protects 5000+ brands around the world as an industry-agnostic, fully customizable yet intuitive end-to-end fraud prevention solution that's highly ranked in the industry.

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Tamas Kadar