In recent survey, PYMNTS in collaboration with Brighterion (a Mastercard company, specialised in offering artificial intelligence and machine learning technologies) analysed response data of more than 200 financial executives from American commercial banks & credit unions, ranging from $1 billion to more than $100 billion in assets & 12800 data points to present, how FIs use AI and Machine Learning? 

Key Observations:
  • 70.5% Share of FIs that used data mining to fight fraud
  • 4.1 Average number of algorithmic tools used by banks with more than $100 billion in assets
  • 2.5% Share of FIs that used AI systems to enhance payments services
Download the full report here