Revolutionizing payments infrastructure with AI & ML to enable secure cross border payments

Abstract

Transformative changes are raging through the global payments space, fueled by rising demands for cross-border transactions to be secure and seamless and efficient. AI and ML are becoming essential tools in transforming payment frameworks to resolve the challenges of cross-border flows. They provide revolutionary ways to prevent fraud instantaneously, assess risk in real-time and comply with various regulatory environments while keeping payment processing secure and transparent.Models driven by artificial intelligence check small and large data sets to find anomalies, determine whether a transaction is suspicious or legitimate, and decide the fastest and cheapest route for payments. Machine learning helps in delivering a better customer experience through personalized payment solutions and adaptable security mechanisms. Moreover, AI/ML technologies support adherence to anti-money laundering (AML) and know-your-customer (KYC) regulations by enabling automated data verification and reporting. AI and ML are already playing a vital role in revolutionizing payments infrastructure via using Fraud prevention, regulatory compliance for anti-money laundering efforts by sophisticate analysis of customer behavior. Through examination of case studies and market trends, it further demonstrates how AI/ML could provide the key to scalable, secure, and cost-effective cross-border payments ushering in a more integrated global financial system.