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What is a BIN in Payment Processing

Clearly Payments

This routing allows the processor to request authorization for the transaction from the issuing bank, which then approves or denies it based on factors like available funds and fraud checks. Security and Fraud Detection : The BIN can provide valuable data points that help prevent fraud.

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

Fintech News

The advanced DI Pro technology, set to be released later this year, is designed to assess the relationships between various elements of a transaction to accurately gauge its risk level.

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Can Agentic AI in Fintech Transform Financial Services Through Autonomous Intelligence?

Fintech News

In fintech, Agentic AI could enhance fraud prevention, risk management, trading, and customer engagement by autonomously analysing financial data, detecting anomalies, and executing decisions in real time. Also, the autonomous nature of the AI means decision-making is often removed from human oversight.

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Temenos Develops AI Agent to Enhance Financial Crime Compliance

Fintech News

Temenos says the solution uses artificial intelligence to assess transactions in real time and support compliance teams in identifying genuine risks more effectively. It is part of the companys broader Financial Crime Mitigation (FCM) suite, which includes tools for KYC risk scoring, transaction monitoring, and payment fraud detection.

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Stripe Acquires Bouncer To Integrate Card Authentication Into Its Fraud Detection Platform

CB Insights

Bouncer : California-based Bouncer is a card-scanning and risk detection technology platform that identifies fraudulent transactions by running automated card authentications. Want the full post? Bouncer’s customers include Groupon, OfferUp, ibotta, and Dealerware, among others. The company is currently valued at $95B.

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Swift Unveils AI Pilots to Combat Cross-Border Payment Fraud

Fintech News

This initiative could transform confidential data sharing and improve global fraud detection. Additionally, the tests could lead to the wider use of information sharing in fraud detection, building on its success in assessing cybersecurity threats.

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Fraud Detection: Leveraging Large Datasets to Develop Models

FICO

This is the fourth in my series on five keys to using AI and machine learning in fraud detection. In fraud detection, a model will benefit from the experience gained by ingesting millions or billions of examples, consisting of both legitimate and fraudulent transactions.