Incorporate Trust in RealTime Payments
Global economy is witnessing unprecedented digital transformation, and the adoption of real-time payments initiated from mobile devices is outnumbering traditional payment channels. The revolutionary payment rail - Unified Payment Interface (UPI) of India has raised the bar for real-time payments across the globe. The faster the payment execution time comes with the bigger challenge of trailing the instructions in the prism of suspicion. Fraudsters take advantage of traditional system limitations and compromise targeted customers. The consequences of fraudulent transactions for financial institutions include:
- Reputation and financial loss for the banking and Financial institutes
- Regulatory compliance issues
We at Protectt.ai have analyzed possible modus operandi around real-time payments with case studies and cracked the codes of patterns. Our risk score engine, powered by AI-ML, considers real-life aspects involved in transactions and concludes the nature of transactions ahead of time.