Mastercard will help banks offer cryptocurrency trading

  • “Mastercard is launching a program to let financial institutions offer cryptocurrency trading to their clients.
  • The payments giant will act as a “bridge” between Paxos, a crypto trading platform already used by PayPal, and banks. Mastercard’s program will handle regulatory compliance and security — two core reasons banks cite for avoiding the asset class.
  • “There’s a lot of consumers out there that are really interested in this, and intrigued by crypto, but would feel a lot more confident if those services were offered by their financial institutions,” says Jorn Lambert, Mastercard’s chief digital officer.”

https://www.cnbc.com/amp/2022/10/17/mastercard-will-help-banks-offer-cryptocurrency-trading.html

How Mastercard is using AI to address cyber risk

Images/LightRocket via Getty Images
  • “As with just about every industry, AI has increasingly infiltrated the financial sector — from visual AI tools that monitor customers and workers to automating the Paycheck Protection Program (PPP) application process.
  • From Mastercard’s perspective, it leans on a philosophy it calls connected intelligence, or collaborative AI, which is about connecting the dots between systems by ‘sharing intelligence or outcomes, and not the underlying data,’ Gerber noted.”

https://www.google.com/amp/s/venturebeat.com/2021/07/12/how-mastercard-is-using-ai-to-address-cyber-risk/amp/

Model Behavior: Banks See AI As A Customer Experience Tool

  • “It can help banks reduce tens of millions of dollars in losses, which will get the attention of every financial services company on the planet.
  • But AI, he said, can provide a lot more than that in terms of protecting FIs from risk. It can also make it possible to preserve a delightful consumer experience while layering in more efficient protections.
  • There is no magic secret to setting up AI, just a simple process. FIs need to develop the roadmap for the issue they are looking to take on, test, find a partner to help them if necessary, deploy, and then start again with the next objective.”

https://www.google.com/amp/s/www.pymnts.com/news/artificial-intelligence/2021/model-behavior-banks-see-artificial-intelligence-as-customer-experience-tool/amp/


Amyn Dhala

Mastercard

Vice President, Global Head of Product for Artificial Intelligence (AI) Express

LinkedIn – http://linkedin.com/in/amyndhala

Amazon Saw 15-Fold Jump In Forecast Accuracy With Deep Learning And Other AI Stats

  • “When Amazon switched from traditional machine learning techniques to deep learning in 2015, it saw a 15-fold increase in the accuracy of its forecasts,
  • Mastercard has used AI to…reduce fraudulent transactions by about 40%”

https://www.google.com/amp/s/www.forbes.com/sites/gilpress/2019/11/14/amazon-saw-15-fold-jump-in-forecast-accuracy-with-deep-learning-and-other-ai-stats/amp/