Remove AI Remove Fraud Detection Remove Visa
article thumbnail

Mastercard supercharges fraud detection with GenAI

Finextra

Mastercard is turbocharging its fraud detection technology with generative AI that can scan a trillion data points to predict whether a transaction is likely to be genuine or not.

article thumbnail

Mastercard taps gen AI for fraud prevention

Bank Automation

Mastercards deployment of generative AI to fight fraud in 2024 has reduced false positives and enhanced fraud detection. The payments giant added generative AI to its Decision Intelligence solution, a real-time decisioning tool, in February 2024, according to Mastercard.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Mastercard Accelerates Card Fraud Detection With Generative-AI Technology

Fintech Finance

As fraudsters seek new ways to exploit technology, Mastercard is using generative AI to double the speed at which it can detect potentially compromised cards, further protecting cardholders and securing the ecosystem. In doing so it alerts Mastercard to new, complex fraud patterns.

article thumbnail

Mastercard, Visa tap AI for fraud solutions

Bank Automation

Card giants Mastercard and Visa leaned into AI and generative AI for fraud detection in the first quarter. “We continue to enhance our solutions with generative AI to deliver even more value,” Chief Executive Michael Miebach said during Mastercard’s May 1 earnings call.

Visa 124
article thumbnail

Mastercard Taps Gen AI for Faster, More Accurate Payments Fraud Detection

Fintech News

Mastercard has adopted generative artificial intelligence (AI) techniques to strengthen security measures for consumers and the broader payments network. The introduction of generative AI technology marks a major step up, enabling the analysis of over one trillion data points to predict the authenticity of transactions.

article thumbnail

AI Becomes the Banker: 21 Case Studies Transforming Digital Banking CX

Finextra

Within this article, we analyze how AI’s adoption in 2024 impacted key areas of digital CX, highlighting global trends as well as specific insights from major markets like the US and UK. Overall, banks that deployed AI at scale in 2024 reported significant improvements in digital channel usage and customer feedback.

AI 64
article thumbnail

Mastercard Deploys Generative AI to Enhance Compromised Card Detection

Fintech News

Mastercard has announced the implementation of generative AI technology to significantly accelerate the detection of compromised cards, enhancing protection for cardholders and securing the payment ecosystem. The new technology scans transaction data across billions of cards and millions of merchants at unprecedented speeds.