AI In Focus: Waging Digital Warfare Against Payments Fraud December 2021 - Learn how banks are using AI to tackle fraud and streamline merchant monitoring

AI In Focus: Waging Digital Warfare Against Payments Fraud

Sixty Percent of US Acquiring Banks Use AI to Manage Transaction Fraud as Digital Volumes Surge

Sixty percent of acquiring banks say AI systems are their most important fraud detection tools, making the technology a must-have as digital transaction volumes soar. PYMNTS’ latest AI In Focus playbook, a collaboration with Brighterion, a Mastercard company, draws on a survey of more than 100 acquirers to examine why the overwhelming majority are tapping third-party AI systems instead of building their solutions in-house.

Inside the December Playbook

  • 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

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