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NPCI turns to AI to stop frauds from siphoning off money
India's banking sector is set to gain a powerful new weapon against digital fraud. The National Payments Corporation of India (NPCI) has initiated a pilot for an AI model that can detect and track stolen money in real-time as it moves across bank accounts. This innovative technology aims to intercept fraudulent transactions before funds vanish, significantly reducing losses for victims and bolstering the security of digital payments across the nation.
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thenextweb.com
India's payments chief says AI will drive UPI from 750 million to a billion daily transactions
NPCI CEO Dilip Asbe says AI will power the next wave of UPI growth through fraud detection, credit distribution, and multilingual voice onboarding.
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newsbytesapp.com
NPCI plans to integrate AI into UPI
NPCI CEO Dilip Asbe revealed plans to integrate AI into UPI, emphasizing its potential to enhance functionality and urging banks to develop tailored AI models for specific tasks.
