JPMorgan Payments is introducing an AI-generated Account Confidence Score that helps corporate clients assess fraud risk before making payments.
Utilizing over 15 billion JPMorgan Payments transaction records, the Account Confidence Score (ACS) evaluates accounts based on various factors, including account age, recency, location, payment history, known fraud incidents, payment frequency, and associations.
The score is produced by a machine learning model that rates beneficiary accounts on a scale from zero (lowest confidence) to 1,000 (highest confidence). Clients will receive a status indicator—Red, Amber, or Green—reflecting their score, along with recommended actions such as additional reviews and security tips to mitigate threats like business email compromise, payroll fraud, invoice fraud, and account takeover.
Greg Hodges, head of trust and safety at JPMorgan Payments, emphasizes, “The Account Confidence Score underscores our commitment to providing clients with the right tools and solutions to navigate the complexities of the digital payments landscape, especially as businesses face unprecedented fraud threats.”