Self-learning artificial intelligence boosts fraud prevention for global payments processor
Elavon, a global payments provider and subsidiary of U.S. Bank, is the latest large payments company to join the Brighterion family of users. We’ll work together to integrate our advanced artificial intelligence (AI) platform into Elavon’s network to minimize fraud and manage risk.
Digital fraud continues to grow exponentially as ecommerce gains increasing numbers of users. With the ability to analyze nearly 100 billion transactions annually, Brighterion will enable Elavon to more efficiently discover and identify transaction anomalies, help mitigate risk and maintain the integrity of Elavon’s global systems.
“The increasing sophistication of fraudsters demands smarter, more nimble and innovative fraud tools that allow us to stay one step ahead,” said Tim Miller, senior vice president, global credit and risk, Elavon in a recent news release. “We look forward to bringing the strength and flexibility of Brighterion’s AI platform to our fight against fraud.”
That strength is rooted in Brighterion’s one-to-one behavioral profiling, which provides unprecedented, omnichannel visibility that identifies fraud and security breaches as they happen. Smart Agents technology has the ability to personalize, adapt and use self-learning to detect, identify and prevent fraudulent transactions. This flexibility is key to prevention.
Elavon and Brighterion will work with merchants in the United States, Europe and Latin America to incorporate fraud monitoring into their systems. Brighterion will develop a tailored AI model to help address key business priorities, including anti-money laundering, fraud risk management, cyber security, credit risk prediction and operational efficiencies.
Elavon provides end-to-end payment processing solutions and services to more than 1.3 million customers in the United States, Europe, Canada, Mexico and Puerto Rico. It’s the leading provider for airlines and a top five provider in hospitality, healthcare, retail, and public sector/education. We’re excited about this latest challenge to protect an organization’s mission critical data.
For more information, please see the news release here.