Visa expands fraud and risk solutions beyond its network in Latin America

In its efforts to be at the forefront of commerce security, Visa, the global leader in digital payments, announced today that, for the first time, two of its most powerful fraud risk management solutions—Visa Advanced Authorization (VAA) and Visa Risk Manager (VRM)—now operate independently of the Visa network in Latin America and the Caribbean. This expansion, which includes non-Visa card payments, will allow issuers in the region to significantly strengthen their fraud prevention strategies across a wider range of payment terminals and card networks, driving a more unified and effective risk management approach.

“Current and rapidly evolving fraud trends require innovative approaches to risk management. Issuers need solutions that can be deployed seamlessly across their portfolios, regardless of the network. By expanding the utility of our risk management solutions beyond the Visa network, we are empowering issuers to improve authorization performance, detect fraud more effectively, and simplify their anti-fraud operations—all while helping them increase approval rates and improve the overall customer experience,” said Leonardo J. Collado, Director of Value-Added Services for Visa Latin America and the Caribbean.

The first project to be implemented in Latin America with this network-agnostic approach was with Banco Diners Club. Thanks to this new initiative, Visa Advanced Authorization and Visa Risk Manager can now help the bank detect and manage fraud in real time across its Visa and other card networks.

“At Diners Club del Ecuador, we are undergoing a digital transformation process from the Vice Presidency of Technology. One of the first steps was to unify the Fraud and IT Security Departments, with the goal of providing greater innovation capacity to fraud prevention processes. Additionally, our alliance with Visa not only strengthens our technological capabilities but also demonstrates our regional leadership by implementing—a pioneer in Latin America—VAA and VRM solutions with successful results.

Today, we work in a smarter, more integrated, and timely manner to combat fraud in an increasingly demanding digital environment, positioning ourselves as one of the most innovative financial institutions in the country,” said Fernando Ramón, IT Fraud and Security Manager.

This collaboration marks an important milestone in our commitment to expanding Visa Value-Added Services (VAS) beyond our network, broadening the impact of our anti-fraud solutions at various payment points. Visa aims to extend this model to more issuers in the region in the short and medium term.

Managing fraud better, together

With quick and easy implementation, VAA and VRM work together or separately to offer issuers comprehensive AI-powered fraud risk management. Issuers can achieve improved authorization performance by combining VAA's real-time insights with customer risk strategies through VRM.

Visa Advanced Authorization, an industry-leading AI-based risk scoring model, has been operating for over 30 years, evaluating up to 500 attributes in approximately one millisecond to detect fraud in real time. Visa Risk Manager transforms this information into actionable data with a suite of intuitive web tools that help develop customized risk strategies for all card networks.

Today, more than 8,000 global financial institutions already use these solutions to help more effectively identify and prevent fraud in their Visa transactions.

Source: VISA.