Mastercard is selling a new artificial intelligence-powered tool that helps banks more effectively spot if their customers are trying to send money to fraudsters. Trained on years of transaction data, the tool helps to predict whether someone is trying to transfer funds to an account affiliated with “authorized push payment scams.”
“It’s a good example of the power of sharing data,” Davis said in an interview. “It’s the first time we’ve been able to see both sides of the payment — sending and receiving.”