MasterCard and KeyBank have announced the bank will now use MasterCard Decision Intelligence, a security product that uses artificial intelligence to make more informed authorization decisions, according to a press release.

This will enable KeyBank to increase the accuracy of real-time approvals of genuine transactions and enhance the overall cardholder experience, according to the bank. This is the first use of AI being implemented in KeyBank's fraud detection services.

"Our renewed relationship with MasterCard, as partners to provide a simple, seamless and secure way to manage money, is another example how we work to help clients make financial progress, one decision at a time," Jason Rudman, head of KeyBank consumer payments and digital, said in the release.

MasterCard will also collaborate with KeyBank on new product development initiatives to deliver technology and services to build its franchise, capitalize on new opportunities and transform into a client-centric, digital bank, according to the release.