Visa has incorporated into its international portfolio of added value services Aric Risk Hub, an advanced anti -fraud solution driven by adaptive artificial intelligence. This technology, designed to act in real time and minimize losses, is now available to protect financial entities and shops in Spain.
Developed by featurespace, Aric Risk Hub uses adaptive to identify risk shops and create profiles around the real activity of customers to maximize approvals and detain criminals in real time. In addition, the adaptive the platform improves continuously thanks to automatic learning and adapts dynamically to changing market conditions. An example of these capacities is the implementation of the Aric Risk Hub for Eika Gruppan, a network of 46 local banks in Norway that experienced a 90 % reduction in phishing losses in 2024 compared to 2023.
“Accepting payments safe is a priority for any business. Many companies have difficulty integrating new technologies and are left behind, so in Visa we are developing services to help our clients face some of their biggest challenges. With our new services, we help companies take advantage of the power of the data, simplify the payment experience and combat fraud more effectively than ever”, He explains Eduardo Prieto, general director of Visa in Spain.
Visa has incorporated into its international portfolio of Aric Risk Hub value, an advanced anti -fold solution driven by adaptive artificial intelligence
Aric Risk Hub is designed to operate beyond the visa ecosystem, in line with its strategy of offering multired solutions open to any form of payment. It is integrated into a portfolio of more than 200 services that Visa makes available to issues, acquirers, fintechs and shops, organized in four areas: acceptance, issuance, consulting and risk & identity.
Growth thanks to the AI
Eika faced three challenges in fraud prevention:
- Increased fraud rates: Banks in Norway have experienced an increase in fraud attempts in recent years, especially through phishing attacks aimed at elderly customers.
- Complex fraud patterns: Sophisticated attacks hindered fraud identification and prevention with traditional systems.
- Manual review limitations: The growing volume of payments generated an unsustainable load for manual reviews, increasing the risk of accidental errors.
It was urgent to have a new anti -fraud solution that was not only effective in detecting threats, but also operationally and automated to reduce manual workload.
To address these challenges, the organization implemented Aric Risk Hub, a platform that learns the behavior patterns of Eika customers and establishes a reference of “normality.” In this way, technology can identify more precision suspicious behaviors in real time. ARIC evaluates the risk of each payment made through online or mobile banking. Each transaction is analyzed in real time to determine if it is legitimate. If it is considered suspicious, Aric alerts the bank to stop the operation and mark it for additional investigation.
