VAA is a risk management tool that monitors and evaluates transaction authorisations on the Visa global payment network, VisaNet, in real time to help financial institutions identify and respond to emerging fraud patterns and trends. In 2018, Visa processed more than 127 billion transactions between merchants and financial institutions on VisaNet, and employed AI to analyse 100 percent of the transactions. Currently, more than 8,000 financial institutions in 129 countries use Visa Advanced Authorization.
The card scheme pioneered using neural networks modelled after the human brain to power its AI platform to identify possible fraud. This delivers faster and deeper insights through previously unknown correlations.
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