BAKU, Azerbaijan, May 15. Visa is considered a pioneer in the use of artificial intelligence, Visa's Vice President for CIS and Southeast Europe, Anton Piatygin said during the panel session of the Fintech Summit in Baku, Trend reports.
“We have started introducing artificial intelligence in the financial sector. Here we have invested $500 million in the creation of infrastructure and other important points," Piatygin said.
According to him, Visa also carries out alternative activities to prevent fraud with non-cash payments.
“In 2023, fraudulent and suspicious transactions totaling $40 billion were prevented. Fraud appears to be on the rise. In this regard, we continue to step up work on fraud prevention,” Piatygin added.
To note, Baku is hosting a fintech summit entitled "New Trends in Banking and Financial Ecosystem: Innovative Solutions, FinTech, and Security" on May 15–16, 2024.
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