Mastercard is harnessing the power of generative AI to significantly enhance its fraud detection capabilities. This advancement allows the company to identify potentially compromised cards twice as fast, effectively doubling its speed in protecting cardholders and strengthening the security of the digital payment ecosystem.
In a recent conversation, Anirban Chowdhury and Shilpy Sinha delved into the transformative role of artificial intelligence (AI) in the field of finance. They emphasized the potential of AI to enhance decision-making, improve operational efficiency, and personalize financial services. Chowdhury highlighted the use of AI in risk management, fraud detection, and algorithmic trading, while Sinha discussed its application in wealth management, customer service, and financial planning.
Mahindra & Mahindra Financial Services (M&M Finance) share price plummeted over 7% today, April 23rd, after the company’s board meeting was postponed. This postponement followed the discovery of a ₹ 150 crore fraud at one of the company’s branches in the North East region.
