New Data: GenAI Emerges as Effective Weapon in Banks’ War to Reduce False Positives

There’s two sides to the AI coin. Fraudsters use it to create more effective scams, while banks use it to detect and defend against fraudsters, and 83% of banks are considering its adoption for this purpose. As the PYMNTS IntelligenceGenerative AI Tracker®” examines, the same capabilities that make AI effective against fraud also present risks that challenge its widespread adoption.

Inside the June Tracker
  • Giants of the financial industry are sculpting the future of payments fraud detection.
  • From pinpointing anomalies to mapping transaction networks, generative AI promises to reimagine payment security.
  • A web of unanswered technical, ethical and regulatory questions challenges generative AI’s adoption for fraud detection.