Visa Smarter Stand-In Processing (Smarter STIP)

2020: Announcement of Smarter STIP - AI systems for independent approval and a deviation of transactions from a bank name

At the end of August, 2020 Visa submitted the Smarter Stand-In system Processing (Smarter STIP) thanks to which the company will be able to independently approve and reject transactions from a bank name.

The new solution will be automatically started if the Visa system will define unavailability of banking systems. Smarter STIP is founded on algorithms and artificial intelligence and deep learning. In it to basis earlier created Visa STIP service lies.

As explained in Visa, use of deep learning allows analyze the transactions executed by the specific card holder with accounting of behavior models until emergence of malfunctions in systems bank. Similar Smarter STIP use solutions "static rules, applied to all portfolio of bank cards", explained in payment systems.

Visa starts an AI system for independent approval and a deviation of transactions from a bank name

According to results of own testing of Visa, accuracy Made AI models 95% of rather probable solutions which could accept emitting bank. According to representatives of Visa, Smarter STIP also can study and adapt, using fresh data, received during failures and from the changes made over time issuers. For training of a new system billions were used records.

Visa created Smarter Stand-In Processing in the conditions of the fact that everyone year occurs failures in work of banks which gives to to unreasonable deviation of operations with credit and debit cards. In case of failure of transactions card owners are forced to address to bank for the help while banks and also the trading companies lose revenue in case of a rejection of transactions.

Thanks to the new Visa tool will independently accept solutions on banking activities in case of malfunctions in to technology infrastructure of credit institutions.^[1]

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