<ul data-eligibleForWebStory="false"><li>Banks and FinTechs are reshaping their operations by integrating AI and machine learning to address complex problems like fraud detection and account validation in real time.</li><li>AI is being used to revolutionize payments by instantly validating accounts and detecting fraud, leading to higher approval rates and reduced payment friction.</li><li>Transparency and quality data are essential for the success of AI in banking, with data being the driving force behind effective solutions in fraud prevention and customer experience improvement.</li><li>AI is predicted to become the foundation of the payments ecosystem, offering a competitive advantage in terms of efficiency, fraud prevention, and market leadership.</li></ul>

Data Takes Fraud Spotlight as Banks Shift to Real-Time Operations

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