Visa to use real-time deep learning to improve transaction processing

Visa announced the creation of Visa Smarter Stand-in Processing (Smarter STIP). This is a new functionality that uses real-time artificial intelligence to assist financial institutions in the transaction authorization process when their systems are disrupted. In the event that card issuer systems remain unavailable, Smarter STIP uses deep learning methods to analyze past transactions. Then, based on the acquired knowledge, it makes decisions to approve or reject current transactions on behalf of the publisher. Visa is pioneering the use of artificial intelligence and neural networks to prevent fraudulent transactions. The Smarter STIP builds on these achievements and is the first of many new, innovative AI-powered solutions from Visa to be used on VisaNet's global network.

"Consumers expect immediate and uninterrupted access to their funds. Failure to meet these expectations can be costly - Stand-in Processing has always been a lifeline for our customers, so they knew they could count on us when something unexpected happened. We are now enriching it with artificial intelligence tools that will make it even smarter, more efficient and faster,"Jack Forestell, executive vice president and chief product officer at Visa, announced.

(WBJ)