"Mastercard Doubles Speed of Fraud Detection with Generative AI"
"Mastercard Doubles Speed of Fraud Detection with Generative AI"
Mastercard has recently announced it is deploying generative AI technology to enhance its fraud detection capabilities. The company said that generative AI enables it to double the speed at which it can detect potentially compromised cards, allowing banks to block them far faster. The company noted that the new technology they developed can scan transaction data across billions of cards and millions of merchants "at faster rates than previously imaginable." It better predicts the full card detail of comprised cards on its network, alerting Mastercard to new, complex fraud patterns.