ATLANTA, GA (July 9, 2019) — While the global implementation of EMV chip technology has reduced fraud activity for card payments, the payments ecosystem is still battling the threat of new and emerging fraud payment schemes online. Brighterion, a Mastercard company, and Elavon, a global payments provider and subsidiary of U.S. Bank, have announced they will work together to integrate Brighterion’s advanced artificial intelligence (AI) platform into Elavon’s network to minimize fraud and manage risk.
“The explosion of ecommerce has been matched with a rise in digital fraud,” said Ajay Bhalla, president, cyber & intelligence at Mastercard. “AI has proven itself critical in managing the complexities of today’s evolving world. We’re pleased to collaborate with Elavon as they take a leadership role in fighting fraud in the industry.”
With the ability to analyze nearly 100 billion transactions annually, Brighterion will enable Elavon to better discover and identify transaction anomalies, which helps mitigate risk and maintain the integrity of Elavon’s global systems.
“The increasing sophistication of fraudsters demands smarter, more nimble and innovative fraud tools that allow us to stay one step ahead,” said Tim Miller, senior vice president, global credit and risk, Elavon. “We look forward to bringing the strength and flexibility of Brighterion’s AI platform to our fight against fraud.”