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Mastercard Uses AWS AI and ML Services to Detect and Prevent Fraud
In this video, Manu Thapar, chief technology officer (CTO), Cyber & Intelligence at Mastercard, describes how Mastercard uses Amazon Web Services (AWS) artificial intelligence (AI) and machine learning (ML) services to improve fraud detection capabilities globally. The solution has enabled Mastercard to detect three times the amount of fraudulent transactions and reduce false positives tenfold, leading to billions of dollars in merchant savings and providing a better experience for customers around the world.
This combination of increased fraud detection and decreased false positives means that the merchants have a very useful solution and the end customers have a much better customer experience than they did before."
Bolsa de Productos de Chile had to manually review up to 2,000 invoices per day, proving to be too much to handle which could also cause errors. They partnered up with AWS Partner Morris & Opazo and Amazon Web Services (AWS) to help implement an generative AI-powered solution called Puerto X Monitor to automate invoice validation and reduce operational risk. The results featured a reduced need for large teams of industry experts as well as improved risk management and help to validate over 1 million invoices to date.
Liquidity and data solutions specialist TP ICAP is trusted by clients worldwide for its market intelligence, data and analytics, and broking services. The company has moved 50 percent of its IT estate to Amazon Web Services, giving it the scale and security to run critical financial trading platforms as well as accelerating decarbonization and supporting its commitment to sustainability. By using the latest generative artificial intelligence solutions such as Amazon Bedrock, TP ICAP’s Parameta Solutions is transforming how its teams put new ideas into action.
Danske Bank collaborates with AWS to streamline the migration of 16,600 servers to the cloud, minimizing costs and human-error risks with hyperautomation.
Organizations of all sizes across all industries are transforming their businesses and delivering on their missions every day using AWS. Contact our experts and start your own AWS journey today.