ROME– A new “On-Demand Decisioning” (ODD) solution that gives financial institutions “more control over authorization decisions” has been released by Mastercard.
According to the company, ODD is the first offering of its kind that allows an issuer the ability to define decisioning criteria directly on the Mastercard network.
“At its core, ODD enables a more agile and personalized approach to transaction decisioning,” Mastercard said in a statement. “Powered by a fully customizable rules engine, ODD allows a financial institution to automate and enforce unique business logic and policies, delivering instant approvals and declines on its behalf.”
Mastercard launched the initiative at its global RiskX summit in Rome and said customers were presented with examples of how ODD works in practice, including setting guidelines that prioritize approvals for high-value cardholders and minimizing declines due to card reissuance.
Opportunity to Customize
Mastercard said that for the first time, issuers can customize how ODD assesses transactions, choosing whether Mastercard should proactively respond on their behalf, or review and modify the financial institution’s decision before passing it along to the merchant.
