The Payments Association white paper shows how AI is transforming payments by improving efficiency, security, and personalization. AI drives value in fraud detection, compliance, credit scoring, KYC/AML, treasury optimization, and document management. Use cases include real-time fraud prevention, invoice reconciliation, personalized financial services, robo-advisors, and chatbots like DBS’s Kasisto. AI also enhances blockchain through smart contracts and data transparency. Adoption accelerated during COVID-19, with frontrunners recognizing its strategic importance. Success depends on clean, aggregated data, effective supervision, accountability, C-level support, and collaboration. Firms embedding AI holistically can cut costs, boost revenues, and gain competitive edge.

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