How Visa’s AI Tool Slashes Phishing Losses by 90% for Banks
Visa’s new AI-driven fraud detection platform is transforming the battle against phishing attacks — and the results are stunning.
Visa has unveiled a powerful AI-powered fraud prevention tool. The ARIC Risk Hub is already transforming the banking industry globally. Featurespace, under Visa’s umbrella, developed this adaptive artificial intelligence system. It is designed to detect and prevent fraudulent transactions in real-time. It’s already delivered impressive results.
The Technology Behind the Tool
The ARIC Risk Hub utilizes over 15 years of machine learning expertise. This knowledge originated from Cambridge University. It is honed specifically for financial services. It operates within an open ecosystem. This means it integrates not just with Visa’s network but across various payment systems. This enables a seamless, enterprise-wide solution for fraud detection.
Unlike static rule-based systems, ARIC uses adaptive AI to continuously learn and evolve as fraud tactics change. It builds detailed behavioral profiles of users and instantly flags deviations—allowing banks to stop suspicious transactions before they’re completed.
Real-World Success: Norway’s Eika Group
One of the most impressive implementations of this system took place in Norway. Eika Gruppen is a banking alliance consisting of 46 local banks. They reported a massive 90% reduction in phishing losses between 2023 and 2024. This was thanks to ARIC.
Phishing—where fraudsters trick individuals into providing sensitive data—had been a persistent problem, particularly among Eika’s elderly customers. The system detected new fraud patterns missed by older solutions. It also significantly reduced the operational load of manual reviews.
“Featurespace’s AI-powered technology learns and adapts in real-time. It profiles normal user behavior in an efficient manner,” said Jon Hagen, Chief Architect at Eika. “Adjusting rules is easy thanks to the powerful support of the system.”
A Dynamic Defense Against Evolving Threats
ARIC’s strength lies in its continuous learning and ability to quickly adapt to new forms of fraud. This dynamic profiling capability reduces false positives, improves customer satisfaction, and ultimately drives down costs for banks.
The system’s impact reaches beyond Eika Group. It’s available globally, offering financial institutions of all sizes the ability to level up their fraud prevention strategies.
Visa’s Vision for Safer Payments
“Accepting a payment is a fundamental need of any business,” said Antony Cahill, President of Value-Added Services at Visa. “We’re helping businesses simplify the checkout experience, harness insights, and fight fraud more effectively than ever.”
Tareq Muhmood, Head of Value-Added Services for Visa Europe, adds:
“We’ve been using AI to fight fraud for over 30 years. By integrating behavioral data with ARIC’s cutting-edge technology, we’re keeping our clients ahead of emerging threats.”
Conclusion
Visa’s integration of ARIC Risk Hub into its suite of services is a significant advancement. It marks a leap forward in financial security. This integration also enhances fraud detection. By leveraging adaptive AI and behavioral data, banks can better detect phishing attacks. They can prevent them more effectively. Banks are now able to respond swiftly to these threats. This approach safeguards customer trust and reduces losses on an unprecedented scale.
Stay tuned to our Gadgets section for more insights on how AI is shaping the future of finance and technology.
