Visa has introduced a more advanced artificial intelligence (AI) tool to approve or deny credit and debit transactions when banks' networks are down.
The deep learning Smarter Stand-In Processing (STIP) service activates automatically if Visa's network detects a bank's network is offline or unavailable.
An older iteration employed a rules-based machine learning model as a backup to handle transactions for banks in case of disruption, in which Visa's product team and the financial institution define transaction authorization rules.
The new STIP AI model is trained to mine billions of data points of cardholder activity to define correlations by itself, and it was 95% accurate in emulating a bank's decision to approve or decline a transaction.
Visa Research's Carolina Barcenas said, "The model finds a lot of those relationships, and it's creating that intelligence that in the past, the analysts had to do."
From The Wall Street Journal
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