Credit card fraud is a significant concern for financial institutions, as it can lead to considerable monetary losses and damage customer trust. Real-time fraud detection systems are essential for identifying and preventing fraudulent transactions as they occur. Apache Flink is an open-source stream processing framework that excels at handling real-time data analytics. In this deep dive, we'll explore how to implement a real-time credit card fraud detection system using Apache Flink on AWS.
Apache Flink Overview
Apache Flink is a distributed stream processing engine designed for high-throughput, low-latency processing of real-time data streams. It provides robust stateful computations, exactly-once semantics, and a flexible windowing mechanism, making it an excellent choice for real-time analytics applications such as fraud detection.