Artificial Intelligence continues to expand the capabilities of cross-border payments

Artificial Intelligence (AI) is playing a crucial role in improving the efficiency and security of international cross border transactions in the payments industry, according to Buckzy Payments Inc. Once regarded as a futuristic technology confined to the realm of films and comic books, AI's science-fiction reputation has given way to practical usage in a fast-growing range of everyday business processes in the finance industry. This extends to cross-border payments, where AI is already automating processes to speed up transactions, strengthen security and improve the quality of service for customers. Abdul Naushad, President and CEO of Buckzy Payments first commented on AI's capabilities in the payments space in January of this year, when he explained its value in reducing human error and instantly calculating credit ratings for customers. But the rapid evolution of AI technology since then means that decision-makers in the payments space are now exploring how AI can help them solve other payment headaches.