Unzer, a prominent leader in payment and software solutions, has made a significant leap forward by introducing UnzerGPT, an AI-powered assistant designed to revolutionize efficiency, customer support, and data security. This innovative tool has been meticulously crafted to enable Unzer employees to harness the power of artificial intelligence while adhering to the strictest data security and compliance standards. Trained with internal company data, UnzerGPT is capable of handling both general and internal inquiries efficiently. Since its rapid adoption, an impressive 80% of Unzer employees have begun using this tool within just the first few weeks of its launch. Niv Liran, Chief Product and Technology Officer at Unzer, highlighted the tool’s remarkable ability to provide fast, detailed answers and adapt to specific needs, enhancing daily tasks and streamlining operations.
Beyond its role as an internal assistant, UnzerGPT is at the forefront of a broader strategy to leverage AI for improved payment security for merchants, particularly through advanced risk management techniques designed to combat fraud. Traditional systems often struggle to keep pace with increasingly sophisticated fraud methods, but AI presents a game-changing solution. By analyzing vast amounts of transaction data in real time, AI can precisely detect suspicious patterns that might otherwise go unnoticed. In the first half of 2024 alone, Unzer’s AI-powered risk platform successfully blocked over 30,000 fraudulent payments, saving merchants more than €10 million in the Buy Now, Pay Later segment. Future plans include extending these AI capabilities to protect other payment methods, such as credit cards and SEPA direct debit.
AI in Enhancing Payment Security
Unzer’s commitment to payment security doesn’t stop at preventing fraud. The company envisions a comprehensive AI-driven strategy to safeguard transactions and protect merchant interests. One of the primary advantages of AI in payment security lies in its ability to process and analyze massive datasets with remarkable speed and accuracy. This capability enables Unzer to detect anomalies in real-time, identifying potentially fraudulent activities before they can affect merchants and their customers. Traditional fraud detection systems, reliant on predefined rules and manual oversight, are often outpaced by the sheer volume and sophistication of modern fraud attempts. AI, however, can adapt and evolve, developing new heuristics by learning from emerging fraud patterns, thereby continuously bolstering security measures.
In practical terms, Unzer’s AI-powered risk platform has demonstrated its effectiveness through concrete results. Blocking over 30,000 fraudulent payments in just six months not only underscores the system’s capability but also highlights the significant financial savings for merchants. This robust fraud prevention system benefits all stakeholders in the payment ecosystem, ensuring that both customers and merchants can engage in transactions with greater confidence and peace of mind. As Unzer continues to refine and enhance these AI tools, it is clear that the incorporation of cutting-edge technology plays a pivotal role in the company’s strategy to outwit fraudsters and maintain a secure transactional environment.
AI and Improved Merchant Experience
In addition to enhancing payment security, Unzer is leveraging AI to significantly improve the overall merchant experience. One key aspect of this initiative involves an internally developed AI assistant designed to classify merchant inquiries and route them to the appropriate team members expeditiously. This intelligent system not only reduces response times but also allows customer service staff to focus on more complex and nuanced tasks, ultimately fostering better service quality. Niv Liran emphasized that Unzer aims to support small and medium-sized businesses by integrating technology, data, and payment systems to provide a seamless and efficient shopping experience for customers.
The benefits of this AI-driven approach extend beyond mere efficiency. By utilizing sophisticated algorithms to streamline customer interactions, Unzer enables merchants to offer a more satisfactory shopping experience, which is becoming an increasingly vital differentiator in a competitive market. For instance, by resolving inquiries more quickly and accurately, AI minimizes the frustration that can arise from delayed or inadequate responses. This, in turn, enhances the overall perception of the merchant’s brand, potentially leading to increased customer loyalty and repeat business. Unzer’s commitment to leveraging AI for superior customer service demonstrates a forward-thinking approach that prioritizes both technological advancement and human interaction.
Balancing AI with Human Expertise
Unzer, a leading provider of payment and software solutions, has introduced UnzerGPT, an AI-powered assistant aimed at transforming efficiency, customer support, and data security. Carefully developed, UnzerGPT allows employees to leverage artificial intelligence while meeting the highest data security and compliance standards. Trained on internal company data, this tool efficiently addresses both general and in-house inquiries. Remarkably, within weeks of its launch, 80% of Unzer’s employees had adopted it. Niv Liran, Unzer’s Chief Product and Technology Officer, lauded the assistant for delivering rapid, detailed responses and adapting to specific needs, thereby enhancing daily tasks and streamlining operations.
In addition to its internal functionalities, UnzerGPT is central to a broader strategy to enhance payment security for merchants. Employing advanced AI techniques, it excels in risk management to combat fraud. Traditional systems struggle against sophisticated fraud, but AI offers a revolutionary solution by analyzing vast transaction data in real-time to detect suspicious patterns. In the first half of 2024, Unzer’s AI-driven risk platform blocked over 30,000 fraudulent payments, saving merchants more than €10 million in the Buy Now, Pay Later segment. Plans are underway to expand AI protections to other payment methods like credit cards and SEPA direct debit.