Enhanced Fraud Protection Initiative: Mastercard Introduces Account Intelligence Reissuance Service in EEMEA Region
Mastercard has unveiled a new fraud prevention service, Account Intelligence Reissuance, in the Eastern Europe, Middle East, and Africa (EEMEA) region. This AI-driven solution is designed to combat the growing threat of card fraud by automating the card reissuance process and providing actionable recommendations on which cards should be monitored or reissued to prevent fraud.
The service, powered by Mastercard's world-class AI technology, leverages the company's proprietary AI engine to assess the risk level of payment cards in real-time. By aggregating vast amounts of transaction and network data, the AI engine evaluates the risk profile of each Primary Account Number (PAN) and delivers prioritized, AI-powered recommendations to issuers on which cards are most compromised and should be reissued.
Selin Bahadirli, executive vice president, Services, EEMEA, Mastercard, stated that Account Intelligence Reissuance goes one step further by allowing issuers to aggregate data, measure risk, and prioritize the most compromised cards for reissuance. This reduces the need for manual risk assessment, enhances fraud detection precision, and accelerates response times to emerging card fraud incidents.
The service, which was first launched in key hubs like Egypt, is expected to significantly enhance credit card fraud prevention and customer protection efforts across the industry. Mastercard plans to extend the rollout of Account Intelligence Reissuance to the Asia Pacific, North America, and Latin America markets in the near future.
In addition to improving the speed and accuracy of fraud detection, Account Intelligence Reissuance optimizes the card reissuance workflow. By automating the process, it minimizes financial losses for issuers and protects consumers on a global scale. The solution combats evolving threats by identifying both digital and physical card skimming techniques more effectively than conventional methods.
The development of Account Intelligence Reissuance is part of Mastercard's ongoing efforts to expand its innovative fraud prevention capabilities in response to the growing digital economy and emerging fraud types. Mastercard's Decision Intelligence capabilities protect customers and cardholders across 159 billion transactions per year.
The company has also established the Center for Advanced AI and Cyber Technology in Dubai, in collaboration with the UAE's Artificial Intelligence, Digital Economy and Remote Work Applications Office. The center aims to enhance AI capabilities and readiness in the region.
In conclusion, Mastercard's Account Intelligence Reissuance is a significant step forward in the fight against card fraud. By leveraging AI technology, Mastercard is not only improving the speed and accuracy of fraud detection but also optimizing the card reissuance workflow, minimizing financial losses for issuers and protecting consumers on a global scale while planning broad regional expansion beyond EEMEA into major global markets.
Mastercard's strategic expansion of Account Intelligence Reissuance from the EEMEA region to Asia Pacific, North America, and Latin America demonstrates the company's commitment to using advanced data-and-cloud-computing technologies for business growth. This AI-driven solution, integrating cybersecurity and finance, aims to reduce financial losses for issuers by accelerating fraud detection and streamlining the card reissuance process, ultimately ensuring a more secure digital economy for consumers globally.
