Visa Inc. said it has made upgrades to its Advanced Authorization antifraud system.
The system, a component of its global processing platform VisaNet, analyzes card transaction authorizations "in flight," the San Francisco company said Thursday. The upgrade increases the number of risk models that are used simultaneously to analyze for risk with each transaction.
"This gives us the ability to actually create advanced analysis that can help detect fraud patterns in real time," Kevin Siegel, a senior business leader in charge of decision sciences for Visa, said in an interview.
Visa said the upgrades improved risk detection for high-risk populations by 122% and for all transactions by 29%.
Visa defines high-risk transactions as primarily cross-border transactions. But the upgrades also improve risk detection on high-speed fraud, meaning multiple attacks on a one or more account at once.
