Visa Launches AI-Powered Tool to Combat Fraud

Visa has introduced Aric Risk Hub, an advanced AI-driven fraud prevention platform designed to help banks and financial institutions tackle financial crimes in real time. The platform leverages adaptive AI—developed through Visa’s acquisition of Featurespace—to build behavioral profiles of genuine customer activity, improving fraud detection and increasing transaction approval rates.

One notable success story comes from Eika Gruppen, a Norwegian banking group, which saw a 90% drop in phishing-related losses in 2024 after deploying Aric Risk Hub. The system effectively identified deviations from normal behavior with high accuracy and minimal false positives.

Visa’s Tareq Muhmood highlighted the company’s three decades of AI expertise in fraud mitigation. He noted that combining behavioral insights with Aric’s cutting-edge capabilities equips clients to better detect and respond to evolving threats.