Seven in 10 Financial Institutions Use AI and ML to Combat Fraud

2024-03-27 12:20 AM by Eugen Boglaru

Recently, PYMNTS sat down with an array of experts and innovators in the artificial intelligence (AI) field to get their thoughts on how the technology will transform the payments and commerce sectors in the years ahead. Not surprisingly, a multitude of ideas and predictions were shared detailing how AI will enhance information gathering, workflows, corporate …

Payment Providers Leverage Data, AI in Battle vs First-Party Fraud

2024-03-19 08:21 PM by Eugen Boglaru

First-party fraud is, increasingly, warranting a first line of defense from the payments networks, using data and AI to uncover what’s really going on with transactions and whether consumers are initiating fraudulent disputes. Picture, then, the cardholder who challenges a legitimate charge on their account. Mastercard noted in an online posting Monday (March 18th) that the …