Acquirers target transaction fraud and merchant monitoring with AI
Leveraging AI to mitigate fraud in the acquiring ecosystem, a white paper commissioned by Brighterion and produced by Aite-Novarica Group, explores ways in which artificial intelligence (AI) and machine learning (ML) can deliver dual benefits to the acquiring industry to protect merchants, payment processors, payment facilitators (payfacs) and similar entities.
Key takeaways from the report include:
- How AI provides powerful solutions to acquirers for transaction fraud and merchant monitoring for risk management.
- How to reduce implementation time by avoiding common data storage and cleansing challenges.
- Methodologies that streamline model creation, demonstrate ROI and prepare teams for successful deployment.
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Acquirers target transaction fraud and merchant monitoring with AI
Leveraging AI to mitigate fraud in the acquiring ecosystem report, commissioned by
Brighterion and produced by Aite-Novarica Group, explores ways in which artificial intelligence (AI) and machine learning (ML) can deliver dual benefits to the acquiring industry to protect merchants, payment processors, payment facilitators (payfacs) and similar entities.
Key takeaways from the report include:
- AI provides efficient solutions to acquirers for transaction fraud and merchant monitoring for risk management over traditional rules-based methods.
- Building an AI model can prove challenging when large data sets are housed in disparate repositories and data cleansing is needed prior to building models.
- The promises of data analytics have attracted the attention of companies around the world, creating a shortage of talent needed to extract the value from the data.
- Companies such as Brighterion have created methodologies that streamline data cleansing and model creation, and demonstrate value to senior management who may be leery of investments without quantifiable benefits.