AI gains momentum in core financial services functions

With 2.5 billion payment cards used in more than 200 countries and territories across the globe, Mastercard faces a gigantic fraud risk. Credit card fraud accounted for more than $32 billion in losses—or about 6.6 cents per $100 in transactions—in 2021, with more than one-third occurring the U.S., according to a December 2022 Nilson Report…

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