Real-Time High Scale Financial Fraud Risk Management

Objective:

Employ state-of-the-art fraud risk management approach designed for real time payments and transaction systems, consisting of processes and technologies to meet increasing consumer and business expectations while managing financial crime risk effectively at scale.

Challenge:

The speed of movement of money domestically as well as internationally has been on an ever-increasing mode with the advent of disruptive payment systems, technologies and frameworks such as IMPS, UPI, ONDC and cross-border money transfers and payment linkages among others. Unfortunately, as the speed of payments increases along with real-time settlement, financial crime risks are on the rise at an appalling pace in terms of number and types. The present challenge that large financial companies are facing is to provide real-time payment services securely with continual increase in payment transactions and payment channels while being agile in fraud prevention and responding fast to fraud detection. Financial institutions want a fraud solution to help them make timely decisions that significantly improve fraud detection rates, reduce false positives, optimize operational costs, and drive efficiency and customer satisfaction. The goal of this challenge is to have in place tools, models and frameworks which leverage data and analytics and use AI / ML technologies to prevent, detect, learn from and mitigate financial fraudulent activities and /or attacks at real time, while delivering a seamless and delightful digital banking, digital payments or any other financial activity experience.

Digital loan processing of an NTB Business customer other than a proprietor

Objective:

Create an entirely digital solution for application, documentation and disbursement of a business loan seamlessly by a corporate customer other than a proprietor. 

Challenge:

• End to end digital journey for sanction and disbursement of a loan is presently not available for a corporate customer or a partnership concern due to issues pertaining to verification of documents like MoA, AoA, Board Resolution, Partnership Deed etc.
• While MoA and AoA can be verified from the MCA website, the problem remains for verifying Board resolution in case of a Corporate and Partnership Deed in case of a Partnership Concern especially where the partnership deed is not registered.
• We need a solution wherein there is a direct integration with MCA for verification of documents and Board resolutions/similarly with an authority wherein partnership deeds are registered