Product Overview of Brighterion (Mastercard)
Introduction
Brighterion, a subsidiary of Mastercard, offers a robust portfolio of artificial intelligence (AI) and machine learning technologies designed to provide real-time intelligence across various data sources. This platform is tailored to address critical needs in fraud detection, risk management, and compliance, particularly in the financial and payments industries.
Key Features and Functionality
Real-Time Transaction Fraud Monitoring
Brighterion’s AI models are trained on Mastercard’s vast anonymized and aggregated global transaction data, enabling them to recognize anomalous patterns in real-time. This capability allows for the instantaneous scoring and return of results, with a throughput time of less than 10 milliseconds, ensuring low latency and high-speed transaction processing.
Advanced Machine Learning Algorithms
The platform utilizes machine learning algorithms that continuously learn from each transaction, updating the models to keep pace with increasingly sophisticated fraud techniques. This adaptive learning ensures that the AI models remain effective in detecting new and evolving fraud patterns.
Comprehensive Fraud Detection
Brighterion’s AI-powered Decision Management Platform (DMP) is designed to detect fraud and other irregularities such as transaction fraud, healthcare fraud, waste and abuse, and money laundering (AML). The platform processes hundreds of thousands of decisions every second, providing real-time detection and mitigation of fraudulent activities.
Enhanced Approval Rates and Reduced False Positives
By integrating Brighterion’s AI into their systems, companies like Worldpay have seen significant improvements in fraud detection rates (increased by over three times) and approval rates (increased by 7.4%), while reducing false positives by up to 20 times compared to legacy solutions.
Global Transaction Intelligence
The platform leverages Mastercard’s global transaction data to empower fraud analysts and enhance the security of digital transactions. This global intelligence helps in recognizing new fraud trends and preventing downstream charges by screening transactions at the preauthorization stage.
Multi-Industry Applications
Brighterion’s technology is not limited to the payments industry; it also serves as a general-purpose AI platform for managing anti-money laundering, acquiring fraud, omni-channel fraud, early delinquency/collections, and credit risk across various sectors, including businesses, governments, and healthcare organizations.
Scalability and Deployment
The platform is designed to scale with growing businesses, processing large volumes of transactions without excess friction. It can be deployed quickly, with market-ready models going into full production in just a few weeks, ensuring rapid return on investment.
Additional Tools and Solutions
Brighterion’s DMP powers multiple products, including Safety Net (catastrophic fraud prevention), Fraud Rules Manager (enabling frequent rule changes), Stand-In (on-behalf decisioning during system outages), and Consumer Controls (cardholder-set controls). These tools collectively enhance the overall security and efficiency of transaction processing.
Conclusion
In summary, Brighterion’s AI platform, integrated with Mastercard’s global transaction intelligence, offers a powerful solution for real-time fraud detection, risk management, and compliance. Its advanced machine learning algorithms, low latency, and ability to adapt to evolving fraud patterns make it a critical tool for maintaining the integrity and security of digital transactions.