How StashFin is using AI & ML to detect Frauds

StashFin has been at the forefront of using technology and is also amongst the first few financial institutes  in India to use AI and ML to detect frauds. Their fraud detection solutions not only detect frauds but also investigates and provide remedies while analyzing a customer’s exposure to fraud. Analytic techniques like network link analysis, predictive modeling, and text mining are used to identify the patterns of fraud. They monitor wire transfers, corporate transactions, online banking, mobile banking, and ATMs.

Parikshit Chitalkar, Co-Found StashFin states “A lot of our capital investment will primarily be in Artificial Intelligence (AI) this year, especially on developing solutions using computer vision technologies and building neural networks for advanced fraud detection. We have been fine-tuning our Machine Learning (ML) models for credit risk assessment over the last year and will now deploy these on a larger scale to serve a broader segment of customers. We will also be expanding our mobile footprint to provide a larger bouquet of services to our customers.”  Delinquencies get drastically reduced when fraud detection systems effectively weed out ID theft.