Mastercard’s Decision Intelligence Pro AI Boosts Fraud Detection for Banks

Payments giant Mastercard Inc (NYSE: MA) has developed a generative artificial intelligence (AI) model called Decision Intelligence Pro to combat fraud within its network of banks. The new AI model is capable of detecting fraudulent transactions by up to 300%, giving banks better tools to identify suspicious activity in real time. Mastercard’s proprietary algorithm trains the AI on its vast transaction data, allowing it to understand relationships between merchants and make predictions based on patterns, rather than relying on words like other large language models. The algorithm assesses the likelihood of a transaction aligning with a cardholder’s behavior and provides a scorecard for final decision making, all within a remarkable 50 milliseconds. This move is part of Mastercard’s broader security plans as it has invested heavily in cybersecurity and AI technologies over the past five years. Other major payment platforms, including Visa and PayPal, have also made substantial investments in AI, indicating the growing impact of AI in the digital banking and payments industry.