Visa launches new AI fraud prevention tool

Visa has built an AI-based tool to combat credit application fraud.

In Brief:

• Advanced Identity Score uses machine learning to generate a risk score for applicants.

• This is based on application and ID data.

• It will help financial institutions in the US predict when fraud will happen.

What does this mean?

Visa says its technology will help banks reduce fraud, helping to prevent brand damage and also reducing costs involved in remediation.

Read more here.