The global pandemic changed many things, including the way people shop and access services. With the intense focus on e-commerce, shoppers want instant, friction-free experiences. Mandatory account creation (24%), long complicated checkouts (17%) and false declines (4%) contribute to massive cart abandonment rates. Merchants lose sales and acquirers lose fees.
Meanwhile, increased online traffic provides opportunities for fraudsters who are focusing more of their energies on this lucrative market.
While most financial institutions and merchants already use AI and ML for transaction fraud detection, they want more from their solutions. They want better data analytics, less fraud, fewer false positives and increased approvals.
In our Ebook, The power of today’s market-ready AI to reduce transaction fraud, we introduce and explain how one of the most robust global network data sets is empowering transaction fraud detection
Brighterion’s Transaction Fraud Monitoring solution is revolutionizing fraud prevention. This advanced market-ready AI model provides a lighter lift for customers. Developed and trained with global anonymized and aggregated transaction data from across Mastercard’s global network, this turnkey solution is ready to prevent fraud – out of the box.