Fast money movement requires fast security. As money moves more and more quickly, the technical challenges to secure the transactions grow for all parties involved. We have to predict behavior and aim to stop fraud before it happens, often with the help of AI, but you need a pretty big data set to make accurate predictions and to track trends in fraud behavior. That's where Visa Direct's network can come in and it's long history of transactions coupled with decades of developing AI tools that can check, monitor, and protect money movement. To get a sense of how AI is used today in money movement, we're going to talk to Michael Jabbara, Vice President, Global Head of Fraud Services at Visa, Dr. Anjana Susarla, who's a professor of responsible AI at Michigan State University, and Clara Durodié, an AI strategy specialist and author of Decoding AI in Financial Services. But first, we hear from Tendai Marambire is an ethical security hacker that conducts baseline testing for Visa Direct transactions and along with her team, continuously add new components and new scenarios as new fraud schemes are discovered in the wild.
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Disclaimer
- Actual fund availability varies by receiving financial institution, receiving account type, and whether transaction is domestic or cross-border.
- Use cases are for illustrative purposes only. Program providers are responsible for their programs and compliance with any applicable laws and regulations.
- Twelve months 1 October 2021 – 30 September 2022. Visa Inc, Quarterly Results, Q4 2022 Transcript.
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