{"id":2349,"date":"2024-02-02T11:56:53","date_gmt":"2024-02-02T08:26:53","guid":{"rendered":"https:\/\/footofan.com\/en\/?p=2349"},"modified":"2024-02-02T11:56:53","modified_gmt":"2024-02-02T08:26:53","slug":"mastercard-supercharges-consumer-protection-with-gen-ai","status":"publish","type":"post","link":"https:\/\/footofan.com\/en\/business\/mastercard-supercharges-consumer-protection-with-gen-ai\/","title":{"rendered":"Mastercard supercharges consumer protection with gen AI"},"content":{"rendered":"<div class=\"article-heading control\">As fraudsters increasingly exploit technology to try to thwart banks and their customers, Mastercard is adopting generative AI techniques to enhance the protections that keep consumers \u2013 and the entire payments network \u2013 safe.<\/div>\n<div class=\"rte\">\n<p class=\"p1\"><span class=\"typography__paragraph--large\">Mastercard\u2019s world-leading Decision Intelligence (DI) &#8211; a real-time decisioning solution &#8211; already helps banks score and safely approve 143 billion transactions a year. New generative AI technology will scan an unprecedented one trillion data points to predict whether a transaction is likely to be genuine or not, building Mastercard\u2019s existing ability to analyze account, purchase, merchant and device information in real time.<\/span><\/p>\n<p class=\"p2\"><span class=\"typography__paragraph--large\">The next generation technology, Decision Intelligence Pro, works by assessing the relationships between multiple entities surrounding a transaction to determine its risk. In less than 50 milliseconds, this technology improves the overall DI score, sharpening the data provided to banks. Initial modelling shows\u00a0 AI enhancements boost fraud detection rates on average by 20% and as high as 300% in some instances.<\/span><\/p>\n<p class=\"p2\"><span class=\"typography__paragraph--large\">\u201cWith generative AI we are transforming the speed and accuracy of our anti-fraud solutions, deflecting the efforts of criminals, and protecting banks and their customers. Supercharging our algorithm will improve our ability to anticipate the next potential fraudulent event, instilling trust into every interaction,\u201d said Ajay Bhalla, president of Cyber and Intelligence at Mastercard.<\/span><\/p>\n<p class=\"p2\"><span class=\"typography__paragraph--large\">The enhancement of DI will further improve banks\u2019 abilities to protect cardholders from fraudulent transactions and mitigate what are known as known as false positives: legitimate transactions which are incorrectly flagged as fraudulent ones.<\/span><\/p>\n<p class=\"p2\"><span class=\"typography__paragraph--large\">\u201cThe precision of the solution \u2013 achieved by scanning potential points of sale in real time &#8211; has been shown in our own analysis to not only increase accuracy, but also reduce the number of false positives by more than 85%,\u201d said Bhalla.<\/span><\/p>\n<p class=\"p2\"><span class=\"typography__paragraph--large\">DI Pro will be available from later this year.<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>As fraudsters increasingly exploit technology to try to thwart banks and their customers, Mastercard is adopting generative AI techniques to enhance the protections that keep consumers \u2013 and the entire payments network \u2013 safe.<\/p>\n","protected":false},"author":2,"featured_media":2351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5,20],"tags":[518,517,431,519],"class_list":["post-2349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-top","tag-bank","tag-di","tag-mastercard","tag-safe"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.7 (Yoast SEO v28.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Mastercard supercharges consumer protection with gen 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