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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."
Crece Más, a company devoted to helping entrepreneurs thrive, wanted to develop a platform to give small businesses tools to automate operations and grow—but struggled to secure funding. With the help of AWS Partner Facele and Amazon Web Services (AWS) infrastructure, Crece Más secured funding to develop a platform to manage inventory, sales, deliveries, and more. With an impressive new application, Crece Más has grown its customer base by 45 percent in just six months. The platform allows small businesses to scale, increase sales by up to 45 percent, and reduce operational costs by 25 percent, helping them expand into new markets and contribute to regional economic growth.
Factoring services company Capital Express wanted to improve client evaluations and grow its business, but it had an outdated system that made accessing data difficult. The company teamed up with AWS Partner NetRed to migrate its data using capabilities from Amazon Web Services (AWS). Migrating helped Capital Express create Advance, an innovative financial management tool that offers real-time data processing. Implementing Advance cut monthly operating costs by 94 percent. It also reduced the time needed for client enrollment and IT consultations to just five minutes. These improvements streamlined operations and enabled faster service delivery, dramatically increasing the growth potential of Capital Express and helping it meet customer needs faster.
Q2, Inc., a financial experience company, partnered with AWS Partner Presidio to migrate its largest revenue-generating digital banking product to AWS, avoiding a costly on-premises hardware investment. Q2 set an ambitious goal to decrease costs by 25% to better serve each customer. The AWS migration would prove integral to achieving this goal. To satisfy a tight timeline and rigid uptime requirements, Presidio developed an automated, parallel migration platform called “Q2 Migration Manager” (Q2MM) to accelerate the project.
Using AWS, Altruist maintains system stability and security alongside efficiency-driving tools that financial advisors depend on to deliver better outcomes to more clients at lower costs.
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.