Artificial Intelligence Transforming Digital Payments and Credit Issuance
Artificial Intelligence (AI) is revolutionizing the digital payments sector and credit issuance, enhancing security, improving user experience, and anticipating risks in an increasingly frequent financial operations environment.
Iván Baquero, Country Manager of Evertec México
In an interview with El Economista, Iván Baquero, Country Manager of Evertec México, explained that the adoption of AI in technologies such as digital wallets, payment platforms, and credit issuance is driving operational efficiency and customer experience.
- Mexico’s AI Growth: Baquero highlighted that Mexico is one of the countries experiencing significant growth in AI usage, exceeding 900%, particularly within the payments industry.
- AI in Credit Issuance: He further explained that AI is facilitating credit issuance by providing tools to improve and expand access to credit, especially for unbanked individuals.
Cybersecurity Challenges
According to Baquero, a crucial challenge in the payments industry is cybersecurity. As cyberattacks become more frequent, safeguarding sensitive customer and system data is essential.
To mitigate cyber risks, companies are adopting payment solutions that enable quick, contactless transactions. Evertec offers such solutions that not only enhance user experience but also strengthen security through multi-layer encryption in digital payment transactions.
“Our goal is to fortify security systems and enhance service efficiency. This allows businesses to increase sales while ensuring customers that their data is well-protected. We utilize all available tools and cutting-edge technology to create a more secure ecosystem.”
Key Questions and Answers
- What is driving the growth in digital payments? The adoption of AI in technologies like digital wallets, payment platforms, and credit issuance is boosting operational efficiency and customer experience.
- How is AI impacting credit issuance? AI provides tools to improve and expand access to credit, particularly for unbanked individuals.
- What are the cybersecurity challenges in digital payments? As cyberattacks become more frequent, safeguarding sensitive customer and system data is crucial.
- How are companies addressing cybersecurity risks? Companies are adopting payment solutions that enable quick, contactless transactions and employ multi-layer encryption to secure digital payment transactions.
