AI In Focus: Gaining Ground On Merchant Monitoring
How 104 Acquiring Banks are Using AI To Beat Fraud, Boot Unprofitable Merchant Accounts
Acquiring banks say that fraud, low transaction volumes and credit losses keep half of their merchant accounts from generating revenue. AI In Focus: Gaining Ground On Merchant Monitoring, a collaboration between PYMNTS and Brighterion, a Mastercard company, surveyed 104 executives from acquiring banks across the U.S. and found out how artificial intelligence (AI) is being used to proactively root out fraud and identify unprofitable accounts to boost acquirers’ bottom lines.
Inside the December Playbook
- 8.9K: Average number of merchants acquirers onboard each month
- 69%: Share of acquiring banks that use AI to monitor merchant accounts
- 90%: Portion of acquirers using AI that say the technology has improved their efficiency
AI In Focus: Waging Digital Warfare Against Payments Fraud – December 2021
Inside the December Playbook
AI In Focus: Waging Digital Warfare Against Payments Fraud
- 88%: Share of acquiring banks that do not use AI to combat payments fraud but plan to adopt AI systems within the next year
- 93%: Portion of acquirers using AI to detect fraud that say fraud increased during the past year
- 75%: Share of acquirers that use AI to detect transaction fraud
AI In Focus: The Healthcare Technology Roadmap — September 2021
Inside the September Playbook
AI In Focus: The Healthcare Technology Roadmap
- 71 percent: Share of health insurers that plan to invest in AI tools for payment integrity purposes within the next three years
- 97 percent: Portion of health insurers that believe it is highly important for AI tools to adapt to changing claims data behavior
- 86 percent: Share of AI-using health insurers that employ in-house solutions to identify FWA
AI In Focus: Targeting Fraud, Waste And Abuse In Healthcare — July 2021
Inside the July Playbook:
AI In Focus: Targeting Fraud, Waste And Abuse In Healthcare Playbook
- 92 percent: Portion of healthcare firms that say regulatory and compliance pressures are “very” or “extremely” important factors behind their decision to adopt AI
- 86 percent: Portion of firms that use AI to detect claims payment-related fraud, waste and abuse that have developed their systems in-house
- 68 percent: Share of firms that believe higher data management costs are the most important challenge when implementing AI tools to improve payment integrity
AI In Focus: The Bank Technology Roadmap Playbook — June 2021
Inside the June Playbook:
AI In Focus: The Bank Technology Roadmap Playbook
- 78 percent: Share of FIs that either have invested in AI or plan to do so within the next 12 months
- 86 percent: Portion of medium-sized FIs that plan to invest in AI within the next 12 months
- 90 percent: Share of FIs investing in technology to make transactions faster and more accurate
AI In Focus: The Navigating Bank Credit Risk Playbook — May 2021
Inside the May Playbook:
AI In Focus: The Navigating Bank Credit Risk Playbook
- 200 percent: Increase in the proportion of FIs using AI since 2018
- 79 percent: Share of large banks that are using AI to manage credit risk
- 88 percent: Portion of FIs that say the pandemic has made lending and credit more challenging
AI Gap Study – June 2019
Inside the Playbook
The AI Innovation Playbook
- 63.6 percent: Share of FIs that believe AI is an effective tool for stopping fraud before it happens
- 80 percent: Portion of AI-using fraud specialists that believe the technology could reduce payments fraud
- 63.9 percent: Share of fraud specialists that believe smart agents could reduce payments fraud
AI Gap Study – April 2019
INSIDE THE APRIL EDITION
AI Innovation Playbook
- 81.8 percent: Share of FIs with assets exceeding $100 billion interested in smart agents to combat fraud
- 45.0 percent: Share of decision-makers working in fraud detection who are interested in smart agent
- 41.1 percent: Share of commercial banks that are very or extremely interested in adopting smart agents
AI GAP STUDY – November 2018
Key Findings from the study include:
AI GAP STUDY
- 71 percent of FIs use data mining technology
- 81 percent of FIs say they measure ROI on learning systems by how it can improve their margins
AI GAP STUDY – February 2019
Inside This February Study
AI Innovation Playbook
- 70.5% Share of FIs that used data mining to fight fraud
- 4.1 Average number of algorithmic tools used by banks with more than $100 billion in assets
- 2.5% Share of FIs that used AI systems to enhance payments services