Mastercard has launched Decision Intelligence, a comprehensive decision and fraud detection service. The solution uses artificial intelligence (AI) technology to help financial institutions increase the accuracy of real-time approvals of genuine transactions and reduce false declines.

This is the first use of AI being implemented on a global scale directly on the Mastercard network.

Current decision-scoring products are focused primarily on risk assessment, working within predefined rules. Decision Intelligence is a radical new approach that goes much further. It takes a broader view in assessing, scoring and learning from each transaction. That score then enables the card issuer to apply the intelligence to the next transaction.

“We are solving a major consumer pain point of being falsely declined when trying to make a purchase,” said Ajay Bhalla, president of enterprise risk and security, Mastercard. “By using AI technology on our global network, we’re helping financial institutions and merchants improve approval rates – and the consumer experience.”