Latest news with #SelinBahadirli
Daily News Egypt
02-07-2025
- Business
- Daily News Egypt
Mastercard Unveils AI-Powered Card Fraud Prevention Service in EEMEA Region, Starting from Egypt
In a move set to redefine digital security for banks and consumers, Mastercard has launched a cutting-edge fraud prevention service, Account Intelligence Reissuance, in the Eastern Europe, Middle East, and Africa (EEMEA) region. The new service aims to help issuing banks identify and replace compromised cards faster and more efficiently, starting with Egypt as a key regional hub. The innovative solution uses Mastercard's proprietary artificial intelligence (AI) and network-wide data to assess card risk in real time, offering banks actionable recommendations on whether a card should be replaced or monitored. The service is designed to combat both digital and physical card skimming, a growing concern as cybercriminals adopt more sophisticated tactics in the digital age. Card fraud remains a costly challenge globally, with billions lost annually by banks and merchants. Traditionally, issuing banks manually review and reissue cards based on perceived risk—a slow and resource-intensive process. Mastercard's AI-driven system aims to automate this process, helping banks prioritize the most vulnerable accounts and enhance fraud protection while minimizing disruption for customers. 'We are delighted to expand our fraud prevention portfolio with Account Intelligence Reissuance, which enables issuers to measure risk and respond with greater precision,' said Selin Bahadirli, Executive Vice President, Services, EEMEA, Mastercard. 'This solution is powered by Mastercard's world-class AI and provides highly accurate insights that will elevate cardholder protection across the region.' The launch is part of Mastercard's broader commitment to secure the digital economy. The company processes more than 159 billion transactions annually and has continued to evolve its fraud prevention tools. Enhanced by Generative AI (GenAI), Mastercard's systems can now analyze transactions by account, device, merchant, and location in real time—helping to detect and prevent fraud before it happens. Egypt's strategic position in the EEMEA region also underscores Mastercard's ongoing investment in AI innovation and cybersecurity. The company's Center for Advanced AI and Cyber Technology, based in Dubai and developed in partnership with the UAE's Office for Artificial Intelligence, plays a key role in the development of AI tools that detect cyberattacks, data breaches, and payment fraud. With its rollout in EEMEA now underway, Mastercard plans to expand the Account Intelligence Reissuance service to Asia Pacific, North America, and Latin America later this year, further cementing its global leadership in secure digital payments. As Egypt continues to digitize its financial ecosystem, solutions like this represent a significant step toward building a safer, smarter, and more resilient banking landscape.
Finextra
02-07-2025
- Business
- Finextra
Mastercard applies AI to stem card reissuance fraud
Mastercard is rolling out Account Intelligence Reissuance, a GenAI-based fraud prevention service, in the Eastern Europe, Middle East and Africa (Eemea) region. 0 The service gives banks tools to identify compromised accounts and issue new cards before fraud occurs. It achieves this by automatically assessing the level of risk associated with a card and providing AI-driven recommendations about which cards need to be monitored or replaced. Issuers often sort primary account numbers (PANs) based on risk level and reissue their compromised cards to prevent further unauthorized transactions. This is costly and requires manual intervention. Mastercard Account Intelligence Reissuance streamlines and automates the process, stepping up fraud prevention efforts addressing both physical and digital card skimming. Selin Bahadirli, executive vice president, services, Eemea, Mastercard, says: 'At Mastercard, we have developed a comprehensive portfolio of fraud products that offer valuable and advanced insights and data. We are delighted to expand our proposition with Account Intelligence Reissuance that goes one step further by allowing issuers to aggregate data, measure risk and prioritize the most compromised cards for reissuance. Powered by our world-class AI technology, this highly accurate solution will significantly enhance credit card fraud prevention and customer protection efforts across the industry.' Mastercard has been progressively embedding AI into its Decision Intelligence services across the board, with the aim of helping issuers to assess account, purchase, merchant and device information faster, making it easier to detect fraud in real time. The decision to roll out the new service initially in Eemea follows Mastercard's opening of an Advanced AI and Cyber Technology in Dubai, established in collaboration with the UAE's Artificial Intelligence, Digital Economy and Remote Work Applications Office. The solution is planned to be rolled out in Asia Pacific, North America and Latin America later this year.
Fintech News ME
24-06-2025
- Business
- Fintech News ME
Mastercard Rolls Out AI-Driven Card Reissuance Tool in EEMEA
Mastercard has launched Account Intelligence Reissuance, an AI-driven tool designed to support card issuers in the Eastern Europe, Middle East, and Africa (EEMEA) region with managing card reissuance more efficiently and reducing fraud-related losses. The service uses Mastercard's proprietary AI and network data to evaluate the risk associated with compromised cards. It provides automated recommendations on which cards should be monitored or replaced, aiming to streamline a traditionally manual and costly process. Card fraud remains a significant challenge for issuers and merchants, often requiring the replacement of large volumes of payment cards following data breaches or other compromises. The new tool supports both physical and digital card skimming scenarios and enables issuers to sort primary account numbers (PANs) based on risk more precisely. 'At Mastercard, we have developed a comprehensive portfolio of fraud products that offer valuable and advanced insights and data,' said Selin Bahadirli, Executive Vice President, Services, EEMEA, Mastercard. 'We are delighted to expand our proposition with Account Intelligence Reissuance that goes one step further by allowing issuers to aggregate data, measure risk and prioritise the most compromised cards for reissuance.' The service builds on Mastercard's existing Decision Intelligence capabilities, which monitor 159 billion transactions annually to identify suspicious activity. Recent generative AI upgrades to its fraud detection systems have improved real-time analysis of account, transaction, merchant, and device data. Mastercard is also developing AI solutions at its Centre for Advanced AI and Cyber Technology in Dubai, launched in partnership with the UAE government. The centre focuses on building regional AI expertise and tools aimed at detecting cyber threats, data breaches, and fraud. The Account Intelligence Reissuance service is expected to expand to Asia Pacific, North America, and Latin America later in the year.
Zawya
24-06-2025
- Business
- Zawya
Mastercard steps up fraud prevention efforts with launch of Account Intelligence Reissuance service in EEMEA
Dubai, UAE: Mastercard has introduced Account Intelligence Reissuance, an advanced fraud prevention service to efficiently manage the card reissuance process, in the Eastern Europe, Middle East and Africa (EEMEA) region. The product leverages Mastercard's proprietary Artificial Intelligence (AI) technology and network purview to assess the level of risk associated with a card and provide AI-driven actionable recommendations about which cards need to be monitored or replaced. Card fraud costs card issuers and merchants billions of dollars each year. Issuers often sort primary account numbers (PANs) based on risk level and reissue their compromised cards to prevent further unauthorized transactions. This is costly and requires manual intervention. Mastercard Account Intelligence Reissuance streamlines and automates the process, stepping up fraud prevention efforts addressing both physical and digital card skimming. 'At Mastercard, we have developed a comprehensive portfolio of fraud products that offer valuable and advanced insights and data. We are delighted to expand our proposition with Account Intelligence Reissuance that goes one step further by allowing issuers to aggregate data, measure risk and prioritize the most compromised cards for reissuance. Powered by our world-class AI technology, this highly accurate solution will significantly enhance credit card fraud prevention and customer protection efforts across the industry,' said Selin Bahadirli, executive vice president, Services, EEMEA, Mastercard. As the digital economy expands – and new fraud types emerge – Mastercard has continually evolved its innovative capabilities to protect customers and consumers at all stages of the payment lifecycle. Mastercard's Decision Intelligence capabilities help to protect its customers and cardholders from fraud across Mastercard's 159 billion transactions per year. GenAI enhancements to Mastercard's solutions have enabled issuers to assess account, purchase, merchant and device information faster, making it easier to detect fraud in real time. Mastercard is also harnessing the power of AI through its Center for Advanced AI and Cyber Technology in Dubai, established in collaboration with the UAE's Artificial Intelligence, Digital Economy and Remote Work Applications Office. Drawing on the company's technical knowledge and expertise, the initiative aims to enhance AI capabilities and readiness in the region. The pioneering AI solutions developed at the Center are helping detect cyberattacks, data breaches and fraud, making the digital ecosystem safer for governments, banks, merchants and consumers. The solution is planned to be rolled out in Asia Pacific, North America and Latin America later this year. About Mastercard Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
Al Bawaba
24-06-2025
- Business
- Al Bawaba
Mastercard steps up fraud prevention efforts with launch of Account Intelligence Reissuance service in EEMEA
Mastercard has introduced Account Intelligence Reissuance, an advanced fraud prevention service to efficiently manage the card reissuance process, in the Eastern Europe, Middle East and Africa (EEMEA) region. The product leverages Mastercard's proprietary Artificial Intelligence (AI) technology and network purview to assess the level of risk associated with a card and provide AI-driven actionable recommendations about which cards need to be monitored or fraud costs card issuers and merchants billions of dollars each year. Issuers often sort primary account numbers (PANs) based on risk level and reissue their compromised cards to prevent further unauthorized transactions. This is costly and requires manual intervention. Mastercard Account Intelligence Reissuance streamlines and automates the process, stepping up fraud prevention efforts addressing both physical and digital card skimming. 'At Mastercard, we have developed a comprehensive portfolio of fraud products that offer valuable and advanced insights and data. We are delighted to expand our proposition with Account Intelligence Reissuance that goes one step further by allowing issuers to aggregate data, measure risk and prioritize the most compromised cards for reissuance. Powered by our world-class AI technology, this highly accurate solution will significantly enhance credit card fraud prevention and customer protection efforts across the industry,' said Selin Bahadirli, executive vice president, Services, EEMEA, the digital economy expands – and new fraud types emerge – Mastercard has continually evolved its innovative capabilities to protect customers and consumers at all stages of the payment lifecycle. Mastercard's Decision Intelligence capabilities help to protect its customers and cardholders from fraud across Mastercard's 159 billion transactions per year. GenAI enhancements to Mastercard's solutions have enabled issuers to assess account, purchase, merchant and device information faster, making it easier to detect fraud in real is also harnessing the power of AI through its Center for Advanced AI and Cyber Technology in Dubai, established in collaboration with the UAE's Artificial Intelligence, Digital Economy and Remote Work Applications Office. Drawing on the company's technical knowledge and expertise, the initiative aims to enhance AI capabilities and readiness in the region. The pioneering AI solutions developed at the Center are helping detect cyberattacks, data breaches and fraud, making the digital ecosystem safer for governments, banks, merchants and consumers. The solution is planned to be rolled out in Asia Pacific, North America and Latin America later this year.
