Mastercard and FeedzaiA Portugal-based risk platform, announcing a meeting addressed to helping banks better, restricted consumers and businesses around the world.
Cheating has become an important issue, with scams worth US $ 1 trillion last year and more than half of the consumers experiencing a scam in a week.
To answer this, MasterCard has developed its consumer fraud solution, which can help financial institutions find scams to open the point of transaction.
The solution was operated by the Advanced AI platform of Feedzai, which has already helped protect financial institutions in over 90 countries.
Since identifying it in the UK in 2023, CFR solution contributes to a 12% reduction in authorized payment (app) payment systems.
Johan Gerber, Executive Vice President of the Mastercard Security Solutions, highlights the full issue of issue, saying,
“With more than half of the world’s population affected, scam fraud is not only a detrimental effect of consumers, but more than GDP in many individual economies.”
He added that the feedzai collaboration will allow them to scales their solution in many markets, helping institutions are more efficient.
Feedzai’s platform protects more than one billion consumers and processes more than $ 8 trillion in transactions each year.
Nuno Sebastio, CEO of Feedzai, emphasizing the importance of adopting AI based on AI, real-time solutions to answer the increase in scams.
“The development of the development of scams promotes urgency for financial institutions to adopt AI based AI-based, real-time solution,”
He said.
Feedzai’s Platform Monitors Every Digital Transaction – Whether Card Purchases or Real-Time Transfers – by Analyzing Multiple Risk Signals, Integrating Device Intelligence, Network Data, and Behavioral Biometrics to Identify and Stop Fraud as IT Occurs.
Selected Image Credit: Edited from Freepik
https://fintechnews.ch/wp-content/uploads/2025/02/Mastercard-and-Feedzai-Partner-to-Combat-Global-Scam-Fraud.jpg
