Mastercard joins AI to curb fraud

Mastercard joins AI to curb fraud
Mastercard joins AI to curb fraud
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Payments company Mastercard has revealed that it has internally developed an advanced generative artificial intelligence model to assist thousands of banks in its network in detecting and preventing fraudulent transactions.

Called Decision Intelligence Pro, the new AI model allows banks to more efficiently evaluate suspicious transactions in real time, determining their legitimacy.

According to CNBC, the solution is a proprietary recurrent neural network built from scratch by the company’s cybersecurity and anti-fraud teams.

The model uses data from the approximately 125 billion annual transactions on Mastercard’s card network to understand relationships between merchants, predicting possible fraudulent transactions. Instead of relying on textual input, the algorithm uses the cardholder’s merchant visit history as a prompt, generating paths through the Mastercard network to evaluate and score the transaction.

The entire process is completed in just 50 milliseconds. Mastercard claims that the new technology can improve fraud detection rates by 20% on average, with improvements of up to 300% in some cases. The company has invested more than $7 billion in cybersecurity and AI technologies over the past five years.

Global company

Mastercard is a global financial technology company operating in the payments sector. Founded in 1966, Mastercard is one of the leading companies in the credit and debit card industry, offering a wide range of financial products and services. The company acts as an intermediary between financial institutions, merchants and consumers, facilitating electronic transactions around the world.

Mastercard cards are widely accepted globally and are available in several forms, including credit, debit and prepaid cards. In addition to payment services, Mastercard also develops innovative solutions such as security technologies, rewards programs and digital payment platforms.

The company plays a key role in global financial infrastructure, facilitating millions of daily transactions. Its operations range from traditional point-of-sale transactions to online and mobile payments.

The article is in Portuguese

Tags: Mastercard joins curb fraud

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