JPMorgan Payments is supplying treasurers with an AI-generated Account Confidence Score, enabling corporate clients to assess fraud risk before initiating a payment.
Leveraging over 15 billion JPMorgan Payments transaction records, ACS evaluates accounts across multiple dimensions, including age, recency, location, payment history, known fraud, payment frequency and linkages.
The score is generated by an AI-based machine learning model that rates beneficiary accounts on a scale from zero, indicating the lowest confidence, to 1,000, indicating the highest confidence.
Clients will receive a Red, Amber, Green status aligned to the score to indicate risk and provide potential actions, such as additional reviews and tips to help prevent common security threats like business email compromise, payroll fraud, invoice fraud, and account takeover.
Greg Hodges, head of trust and safety at JPMorgan Payments, says: “The Account Confidence Score underscores our commitment to equipping our clients with the right tools and solutions to navigate the ever-evolving complexities of the digital payments landscape, especially as businesses face unprecedented fraud threats.”