Sri Lanka’s National Savings Bank (NSB) and MasterCard have inked a deal to deploy MasterCard Expert Monitoring Solutions (EMS) with Real-time Fraud Scoring Service.
Allowing the bank to achieve higher detection rates than other conventional solutions, the service uses a unique combination of Artificial Intelligence (AI) and Smart-Agents technology to detect and prevent fraudulent payment transactions at the time of authorization.
Its state-of-the-art predictive modeling technology processes all transactions and provides a real-time predictive fraud score that indicates the measure of likelihood that the transaction is fraudulent or high risk. This ensures lower instances of false triggers and related declining of transactions for cardholders. Monitoring transactions in real-time, it can also prevent further misuse in the instance of loss or theft of card.
MasterCard Fraud Management Solutions Group provides financial institutions with the latest products and services to combat payment fraud and mitigate risk. Solutions include broad-based risk detection programs, designed to detect and prevent fraud at all stages of the account life cycle.
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