Arab Finance: MasterCard has announced the launch of the advanced Account Intelligence Reissuance service in the regions of Eastern Europe, the Middle East and Africa with the aim of enhancing the efficiency of dealing with financial cards fraud, according to the statement sent on July 1.
This service depends on the technique of artificial intelligence developed by MasterCard, as it is an accurate analysis of the level of risk associated with the use of a specific card, and to provide smart recommendations that determine whether the card requires monitoring or release.
One of the most prominent challenges facing banks and commercial institutions is the most important challenge facing businesses and commercial institutions, as it causes significant financial losses annually. Usually the cards exporting the account numbers based on the level of potential risk, then release the cards at risk to avoid more unauthorized transactions, but this process is expensive and requires manual intervention.
The Account Intelligence Reissuance service provides a more efficient solution as it depends on a multi -dimensional assessment of risk factors while providing a clear explanation for each case, which helps MasterCard customers make quick and appropriate decisions to reduce the risk of fraud and reduce its effect on card holders.
MasterCard comes from MasterCard to simplify and automate this procedure, which enhances fraud protection efforts, whether in cases of theft of actual or digital card data.
On this occasion, Celine Bahdeley, Executive Vice President of Services in the Eastern, Middle East and Africa region of MasterCard: “We in MasterCard developed a comprehensive set of anti -fraud solutions, depends on accurate data and advanced visions. We are pleased to expand this group through the ACCOUNT Intelligence Reissuance service, which represents an additional qualitative that enables the parties Exporting from data collection, accurately analyzing risk levels, identifying the most vulnerable cards to take the appropriate action against them.
With the expansion of the digital economy – the emergence of new types of fraud – MasterCard is constantly developing its innovative capabilities to protect customers and consumers at all stages of the payment cycle. MasterCard's decision -making capabilities via the latest artificial intelligence technologies help protect its customers and holders of fraud through 159 billion transactions annually.
The improvements to the MasterCardgard solutions enabled the release of account, purchase, merchant and device information faster, facilitating the discovery of fraud in actual time.
MasterCard is also employing its advanced abilities in artificial intelligence, through its global center for artificial intelligence and advanced technology, which was opened in Dubai in cooperation with the Office of Artificial Intelligence, Digital Economy and remote work applications in the UAE, where this center is concerned with developing the capabilities of artificial intelligence that enhances the region's readiness in this field based on the wide technical experience owned by the company.
The advanced innovations that are developed in this center contribute to the detection of cyber attacks, data leaks, and fraud, which contributes to making the digital environment safer for government agencies, financial institutions, retail sector, and both users.
This service is scheduled to be launched in the Pacific region, North America and Latin America later this year.
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