United StatesFinance and insurance2024 – ongoingMastercard
AI screening for fraudulent transactions
Mastercard detected 3x as many fraudulent transactions with AWS AI and machine learning
Problem
Mastercard needed to detect fraudulent payments globally while limiting false positives that disrupted legitimate customers.
Approach
Mastercard used AWS AI and machine-learning services to improve global fraud detection. Its Cyber & Intelligence team described an operational solution that increased detection while reducing false positives.
Results
Takeaway
Mastercard's reported improvement covered both finding more fraud and reducing false alarms in payment screening.
Categories
- Size
- Large enterprise
- Industry
- Finance and insurance
- Business function
- Finance, risk and legal
- Innovation type
- Process innovation
- AI technology
- Predictive analytics and ML
- Adoption
- Off-the-shelf tool or platform
- Evidence
- Vendor case study
Sources
Source summaries
AWS reported that Mastercard's fraud-detection solution detected 3x as many fraudulent transactions and reduced false positives tenfold. The story described improved customer experience from these changes. The page carries no date; the Internet Archive first saved it on April 9, 2024.
Full details are in the original sources.