White Paper
Using AI Intelligently: Smart ways to use Artificial Intelligence in Payments
The Payments Association white paper shows how AI is transforming payments by improving efficiency, security, and personalization. AI drives value in fraud detection, compliance, credit scoring, KYC/AML, treasury optimization, and document management. Use cases include real-time fraud prevention, invoice reconciliation, personalized financial services, robo-advisors, and chatbots like DBS’s Kasisto. AI also enhances blockchain through smart contracts and data transparency. Adoption accelerated during COVID-19, with frontrunners recognizing its strategic importance. Success depends on clean, aggregated data, effective supervision, accountability, C-level support, and collaboration. Firms embedding AI holistically can cut costs, boost revenues, and gain competitive edge.
