Trends
Visa launches AI-powered fraud prevention tools
Visa has added a trio of AI-powered risk and fraud prevention tools to its suite of products for businesses. VDA is a tool that depends on AI to combat fraud The new AI-powered fraud prevention tools are a part of the Visa Protect suite and are designed to reduce fraud across immediate account-to-ac…
Headline
Visa has added a trio of AI-powered risk and fraud prevention tools to its suite of products for businesses. VDA is a tool that depends on AI to combat fraud The new AI-powered fraud prevention tools are a part of the Visa Protect suite and are designed to reduce fraud across…
Context
Visa has added a trio of AI-powered risk and fraud prevention tools to its suite of products for businesses. The new AI-powered fraud prevention tools are a part of the Visa Protect suite and are designed to reduce fraud across immediate account-to-account and card-not-present payment, as well as transactions both on and off Visa’s network.
Evidence
Pending intelligence enrichment.
Analysis
The new Visa Deep Authorisation (VDA) is a transaction risk scoring tool tailored to better manage CNP payments. Powered by deep learning AI risk models and petabytes of contextual data, VDA is designed to combat fraud without disrupting digital transaction experiences. Visa revealed that it helped block $40 billion in fraudulent activity last year, nearly double from 2022. Also read: Visa, Western Union expand cross-border money transfers The company has unveiled its first fraud prevention tool built specifically for immediate payments, including P2P digital wallets, account-to-account transactions, and central banks’ instant payment systems. Powered by deep learning AI detection models, the service provides a risk score in real time that helps financial institutions prevent fraud by automatically blocking bad transactions before they happen.
Key Points
- Visa introduces new products within its Visa Protect suite aimed at reducing fraud for business clients, including Visa Deep Authorization (VDA), Visa Advanced Authorization (VAA), and Visa Risk Manager (VRM) , all powered by deep learning AI models.
- These solutions are designed to combat fraudulent activities in immediate account-to-account, card-not-present payments, and transactions on and off Visa’s network, leveraging advanced technology and extensive contextual data to enhance security measures and prevent fraudulent…
Actions
Pending intelligence enrichment.
