Mastercard has decided to counter fraudsters with the help of modern technologies.
The company’s specialists created their own artificial intelligence from scratch called Decision Intelligence Pro. This new development is designed to combat scammers.
How will it work?
The company explained that their innovation will track Mastercard transactions in real time, and then analyze them to understand whether they are legitimate or not.
The algorithm will also use the cardholder’s history of visiting retail outlets, and if the client’s behavior deviates from the pattern, the AI will begin checking the payment. Mastercard’s development has already learned from the 125 billion transactions that are carried out through the company annually.
Experts believe that such an innovative approach to combating fraudsters will help banks increase the level of detection of illegal transactions by 20%, and in private cases this figure can increase by 300%.
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