Mastercard launched a new fraud prevention tool across Eastern Europe, Middle East and Africa. The company calls it Account Intelligence Reissuance. Banks can identify risky payment cards faster with artificial intelligence technology. The system tells financial institutions which cards need replacement after security breaches. Card companies save money and time with automated risk assessment.
Financial institutions lose billions of dollars each year from payment card fraud. Banks manually review account numbers when security problems happen. Workers must decide which cards pose the greatest danger to customers. This old method takes many hours and costs significant money. The new Mastercard system speeds up these decisions with computer analysis.
Selin Bahadirli works as an executive at Mastercard for the region. She said the company created many fraud protection products over recent years. The new reissuance tool helps banks combine information and measure risks better. Computer intelligence makes the process more accurate than human workers. Banks can protect customers from both physical and digital card theft.
Mastercard handles 159 billion payment transactions every year around the world. The company built an advanced technology center in Dubai to fight cybercrime. Scientists at the facility create tools that spot data breaches and online attacks. These innovations help governments, banks, stores and regular people stay safer online.
The payment company plans to bring this fraud prevention system to other continents. Asia Pacific, North America and Latin America will receive the technology before 2025 ends. More banks worldwide will gain access to automated card replacement recommendations.
Financial institutions lose billions of dollars each year from payment card fraud. Banks manually review account numbers when security problems happen. Workers must decide which cards pose the greatest danger to customers. This old method takes many hours and costs significant money. The new Mastercard system speeds up these decisions with computer analysis.
Selin Bahadirli works as an executive at Mastercard for the region. She said the company created many fraud protection products over recent years. The new reissuance tool helps banks combine information and measure risks better. Computer intelligence makes the process more accurate than human workers. Banks can protect customers from both physical and digital card theft.
Mastercard handles 159 billion payment transactions every year around the world. The company built an advanced technology center in Dubai to fight cybercrime. Scientists at the facility create tools that spot data breaches and online attacks. These innovations help governments, banks, stores and regular people stay safer online.
The payment company plans to bring this fraud prevention system to other continents. Asia Pacific, North America and Latin America will receive the technology before 2025 ends. More banks worldwide will gain access to automated card replacement recommendations.
