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Instant Impact: AI’s Role in Advancing Real-Time Payments
• Perceptions about risk are hindering the adoption of real-time payments, as many companies and consumers are hesitant to leverage these rails for fear of fraud and cybercrime. AI offers the potential to effectively manage these complications.
• Balancing the need for security with a fast and convenient customer experience is a constant challenge for any payments provider, especially one that intends to operate in real time. AI can be a key tool to deliver on this promise.
• FIs and payments providers are recognizing AI’s potential to eliminate payments roadblocks and accelerate the transaction process by improving fraud detection. Firms that have integrated AI into their systems are reporting numerous successes.