Visa is one of the largest payment companies in the world, handling billions of transactions every year. As such, it is a prime target for cyberattacks from hackers looking to steal sensitive financial information. To counter these threats, Visa has turned to artificial intelligence (AI) and machine learning (ML) to bolster its security defenses.
AI and ML offer several advantages over traditional cybersecurity methods. They can detect and respond to threats in real time, identify patterns in data that humans may miss, and adapt to changing threat landscapes. Visa has incorporated these technologies into its fraud detection and prevention systems, which help identify and block fraudulent transactions before they can cause harm.
Proactive Risk Assessment with Visa’s Risk Manager Platform
One example of how Visa is using AI to counter cyberattacks is through its Visa Advanced Authorization (VAA) system. VAA uses ML algorithms to analyze transaction data and identify patterns of fraudulent activity. The system learns from historical data and uses that knowledge to detect and prevent future fraud attempts. This approach has been highly effective, with VAA reportedly blocking $25 billion in fraudulent transactions in 2020 alone.
Visa is also using AI to enhance its risk assessment capabilities. The company’s Risk Manager platform uses ML algorithms to analyze transaction data and identify potential fraud ris
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