MasterCard last summer bought Brighterion for an undisclosed sum to help accelerate its Artificial Intelligence capabilities, adding the San Francisco headquartered firm’s Smart Agent technology to its advanced AI suite of security products.
Ajay Bhalla, president of enterprise risk and security for MasterCard sees “unprecedented use of artificial intelligence … to fully realize the promise of our increasingly digital lives”.
Brighterion CEO and Founder Dr. Akli Adjaoute said the firm had “worked with MasterCard over the years to identify patterns and trends to power their most advanced customers’ authorization and decisioning activities.”
A year later, in June of 2018, MasterCard launched AI Express, a service to help companies develop a tailored AI model, including AML, fraud risk management, cyber security, credit risk prediction and operational efficiencies through AI.
Citing a Fortune study that says that more than 80% of Fortune 500 CEOs see Artifical Intelligence as extremely important for their company’s future, MasterCard wants to “play an active role in accelerating the adoption of artificial intelligence and machine learning by opening up its platform”.
Seems like the acquisition worked well for MasterCard… Brighterion says it offers “the world’s deepest and broadest portfolio of AI and ML… with real-time intelligence from any data source, regardless of type, complexity, or volume.”
Dr. Adjaoute founded his first company in Paris in 1988, developing a platform called Rylm, that around 2000 led to Brighterion in the US. Rylm is a platform based on Smart Agents, Neural Networks, Business Rules, Genetic Algorithms, Constraint Programming, Fuzzy Logic and Cased-based Reasoning, with applications in fields including finance, supply chain, retail, and military. The Secretary General of Interpol became chairman in 2002. Field applications include homeland security, payments, compliance, IoT, healthcare and marketing.
Brighterion was awarded the 2017 Fintech Company of the Year by Morgan Stanley.
The motto “mission critical artificial intelligence” includes mission critical applications, real-time response rates, and seamless integration with any existing system.
