AI’s Transformative Role in Fintech: Insights from Visa’s Yevgen Lisnyak

December 21,盗U匿名兑换方法 2025  12:35

Yevgen Lisnyak, the head of Strategic Partnerships, Fintech & Ventures at Visa for Ukraine, Georgia, the Commonwealth of Independent States and Southeastern Europe, talked to NEWS.am Tech in the sidelines of the Silicon Mountains-2025 international technology summit held in Yerevan on November 15. Lisnyak discussed the role of artificial intelligence (AI) in fintech, Visa’s initiatives to integrate AI into its services, and the company’s partnerships with startups to drive innovation.

AI: A Game-Changer in Fintech

“Everybody is talking about AI,” Lisnyak says, emphasizing its growing ubiquity.

He notes that Visa’s research reveals about 94% of Chief Information Officers in financial institutions are already leveraging AI in their operations with plans to expand its use further.

Lisnyak identifies five key benefits AI offers the fintech sector:

Operational Efficiency and Security

AI enhances transaction processes by predicting failures, identifying fraud risks, and strengthening network resiliency. Visa’s AI tools, such as the Visa Advanced Authorization (VAA), analyze 500 parameters per transaction in seconds, helping financial institutions make informed decisions. “With VAA and other Visa Protect Enterprise Risk Solutions, we’ve prevented an estimated $28 billion in fraud annually,” he highlights.

Personalized Customer Experiences

Leveraging vast datasets, AI enables tailored interactions, transforming routine customer engagements into dynamic, context-aware conversations. “It’s about knowing a person better than they know themselves,” says Lisnyak, underscoring the transformative potential of personalized offers and interactions.

Actionable Insights

AI’s analytical power surpasses that of human analysts, offering unparalleled visibility into cash flow trends and enabling precise forecasting. “This ability to anticipate future needs drives smarter business decisions,” he adds.

Deepened Customer Engagement

Proactive recommendations tailored to customer needs are another AI-driven capability, ensuring that financial tools and products align closely with user preferences.

Disruptive Innovation

The creation of innovative, personalized products has the potential to redefine traditional financial services, according to Lisnyak.

Balancing Innovation with Security

While AI offers numerous advantages, implementing it in financial services requires careful prioritization. Visa has invested over $3 billion in AI initiatives over the last decade, deploying hundreds of large language models across its suite of products.

However, Lisnyak points out that the challenge lies in focusing on the most impactful applications. “It’s about finding efficient solutions to specific problems amidst a sea of opportunities,” he explains.

Security remains a cornerstone of Visa’s innovation strategy. AI-powered tools like the Visa Risk Manager and the Visa Provisioning Intelligence system not only identify but also prevent sophisticated fraud schemes. “We’ve even addressed fraud risks in seemingly safe areas, such as tokenization, by developing tools to counter social engineering threats,” Lisnyak shares.

Empowering Startups Through Collaboration

Visa’s commitment to fostering innovation extends beyond its internal operations. The company actively collaborates with startups and fintech firms, recognizing the value of shared growth.

Through initiatives like the Visa Everywhere Initiative, the company provides a platform for emerging businesses to showcase their ideas. This program has catalyzed the success of startups across the region, connecting them with Visa’s clients and resources. Lisnyak cites the example of Payze, a Georgian fintech startup, or MARTA from Uzbekistan, whose businesses were significantly boosted after participating in the program.

Visa’s support for startups isn’t limited to exposure; it also includes financial backing. The company recently announced a $1 billion commitment to African fintech startups, signaling its dedication to global innovation.

Challenges for fintech companies in the region

Fintech companies in Ukraine, Georgia, the Commonwealth of Independent States and Southeastern Europe face unique hurdles. Lisnyak observes that these challenges often arise from the different maturity level of traditional banks and fintech firms.

“Banks are comprehensive service providers, while fintechs more likely focus on specific problems,” he explains. This specialization allows fintech companies to deliver highly efficient solutions, but it can also create competition. Lisnyak advocates for a cooperative approach, suggesting that banks and fintechs collaborate to attract new customers and grow together. “Lead, don’t compete,” he advises.

The future of AI in financial services

Lisnyak envisions AI as a cornerstone of the future financial ecosystem. Its potential to streamline operations, enhance security, and simplify user experiences is vast. He paints a vivid picture of what this future could look like:

“Imagine telling AI to buy a birthday gift for your daughter. With access to data about her preferences and social connections, AI could choose the perfect gift and complete the purchase seamlessly,” he says. This level of integration, Lisnyak believes, will revolutionize user interactions, making financial services more intuitive and efficient.

Looking ahead

Under Yevgen Lisnyak’s leadership, Visa is embracing AI as a transformative force in fintech. By leveraging its capabilities, the company is not only enhancing its own operations but also fostering innovation across the industry.

From preventing billions in fraud to empowering startups and redefining customer experiences, Visa exemplifies the power of collaboration and technological advancement. As Lisnyak puts it, “AI’s role in the future of financial services is not just crucial—it’s inevitable.”