STRATEGIC PARTNERS
August 24, 2018
Cleveland-based KeyBank is working with MasterCard to implement MasterCard Decision Intelligence, a security solution that uses artificial intelligence to make authorization decisions.
According to a press release, the technology represents the first use of AI in fraud detection services at KeyBank, and will help the FI increase the accuracy of real-time approvals of genuine transactions.
Building on a 20-year relationship with KeyBank, MasterCard will also collaborate on new product development initiatives to deliver technology and services to build its franchise, capitalize on new opportunities and transform into a client-centric, digital bank, the release said.
KeyBank and MasterCard renewed their relationship last year to deliver payment services to the bank's consumer, small business and commercial customers. Most recently, the two companies converted approximately 1 million First Niagara customers to KeyBank clients.
"We are excited to continue partnering with KeyBank to deliver client-centric solutions and artificial intelligence capabilities beyond card payments," Raj Seshadri, MasterCard president of U.S. issuers, said in the release. "We are tapping our deep capabilities in data analysis to help KeyBank with fraud detection."
