Mastercard’s GenAI wields power to fight fraud like a boss.

TLDR:

Mastercard has launched a tool called GenAI to combat fraud in the cybersecurity landscape. GenAI uses generative AI techniques to predict the authenticity of transactions by analysing an unprecedented 1tn data points. The tool significantly improves the overall DI score in less than 50 milliseconds, resulting in an average 20% increase in fraud detection rates and a reduction of over 85% in false positives. Mastercard plans to make GenAI available later this year.

Mastercard has developed a new tool called GenAI to enhance its fraud detection capabilities. GenAI leverages generative AI techniques to analyse an unprecedented 1tn data points to predict the authenticity of transactions. The tool improves the real-time decisioning process by assessing relationships between multiple entities involved in a transaction, resulting in an average 20% increase in fraud detection rates and a reduction of over 85% in false positives. Mastercard plans to launch GenAI later this year.

Key points:

• Mastercard has launched a new tool called GenAI to combat fraud in the cybersecurity landscape.
• GenAI uses generative AI techniques to analyse an unprecedented 1tn data points to predict the authenticity of transactions.
• The tool significantly improves the overall DI score in less than 50 milliseconds, resulting in an average 20% increase in fraud detection rates and a reduction of over 85% in false positives.
• Mastercard plans to make GenAI available later this year.

Mastercard, a global leader in payments technology, has launched GenAI, a new tool designed to combat fraud in the cybersecurity landscape. GenAI uses generative AI techniques to analyse an unprecedented 1tn data points, predicting the authenticity of transactions. The tool significantly enhances Mastercard’s existing capability to analyse account, purchase, merchant, and device information in real-time. It improves the overall Decision Intelligence (DI) score in less than 50 milliseconds, resulting in an average 20% increase in fraud detection rates. Additionally, GenAI reduces false positives by over 85%, ensuring legitimate transactions are not incorrectly flagged. Mastercard plans to make GenAI available later this year.