Poland Prepares for Secure Financial Future with Visa’s AI-Based Fraud Detection Solution
A Major Breakthrough in Financial Security
Visa’s pioneering AI-based fraud detection solution, Visa Protect for Account to Account Payments, is set to make its mark in Poland. This cutting-edge technology has already been successfully tested in the UK, where it demonstrated an impressive ability to identify 54 percent of fraudulent transactions that traditional systems had missed.
The UK Pilot Project: A Staggering Success
The pilot project in the UK was conducted in partnership with Pay.UK, a leading consumer-to-consumer instant payments operator. The analysis covered billions of bank retail transactions from the past year, resulting in an estimated £330 million annual savings for market participants. This significant boon to the economy is a testament to the innovative solution’s effectiveness.
Enhanced Security for Instant Payments
When launched in Poland, Visa Protect for Account to Account Payments will provide an additional layer of security for instant payments. This means that financial institutions will be able to detect and prevent fraudulent transactions before they occur, ensuring that accounts are safe from unauthorized access and misuse.
A Major Milestone for Poland’s Financial Landscape
The introduction of this groundbreaking solution marks a major milestone in Poland’s efforts to create a more secure financial landscape. As part of Visa Protect, the company’s comprehensive suite of value-added services, the tool will be available to almost 250 products, further reinforcing its commitment to ensuring the integrity of global transactions.
A Safer and More Reliable Payment Experience
The launch of Visa Protect for Account to Account Payments is expected to have a significant impact on Poland’s economy, paving the way for greater financial inclusivity and growth. Consumers and businesses alike can look forward to a safer and more reliable payment experience.
Key Benefits
- Detection of 54 percent of fraudulent transactions that traditional systems had missed
- Estimated £330 million annual savings for market participants in the UK
- Additional layer of security for instant payments
- Availability to almost 250 products as part of Visa Protect
- Enhanced financial inclusivity and growth