Friday, 24 March, 2023

Here's how ML helps Visa in preventing $ 25 billion fraud

<p>Visa has invested over $500 mn and 1500 engineers to develop more than 100 apps powered by ML and AI to fight fraudulent transactions. One such app is Visa Advanced Authorization. VAA, using real-time ML models, enables institutions to approve and reject the right transactions while reducing false positives and negatives. In one millisecond VAA looks into more than 500 risky transactions. So far it has prevented roughly $25 bn in annual fraud.</p>