Artificial Intelligence

AI GAP STUDY

In the new study, The AI Gap, PYMNTS interviews executives at 200 FIs and analyzes over 12,800 data points. The research discovers that only 5.5 percent of banks actually use what experts call “true AI” to reduce false-positives and fight AML, as well as optimize credit and other payments and banking products. Get all the details here.

LATEST AI PODCASTS

How Mastercard Uses AI To Fight Fraud And Make Better Credit Decisions

Mastercard is harnessing artificial intelligence (AI) in a bid to hit fraudsters hard by searching for emerging patterns of criminal activity before they become major problems, two top executives told Karen Webster during Mastercard’s Virtual Cyber & Risk Summit. “In many cases, AI is fundamental to scaling and keeping up with the pace of the network […]

Today In Payments: Savings Rate Surges To Highest Level In 39 Years; Big Lenders Process Half-Million Loan Applications
Today in Payments

In today’s top news, the U.S. savings rate surged in March due to the shaky coronavirus economy, and big banks have processed almost 500,000 applications for the second round of Paycheck Protection Program (PPP) loans. Plus, Visa reported earnings that show a strong shift to contactless payments. Savings Rate Surges To Highest Level In 39 […]

As Pandemic Reshapes Consumer Behavior And Credit Risk: In AI We Trust?

The hoarding might be done. Toilet paper is no longer a precious commodity. Grocery shelves are (relatively) well-stocked. As the pandemic continues to take root in the U.S., there are some shifts in consumer behavior that will be long-lived, perhaps permanent. We’re all living life online and having the essentials of daily life delivered. Unemployment, of course, is […]

Banks Aim AI At Credit Risk, Payments Services
artificial intelligence

Of the seemingly inexhaustible uses of artificial intelligence (AI) in the financial sector, its applications around managing credit risk and optimizing payment services are among the most promising. The proliferation of “smart agents” that handle these tasks is a glimpse of more innovation to come, as AI proves its worth to financial institutions (FIs) in […]