NPCI’s AI-Driven Risk Scoring to Help Banks Combat UPI Fraud

NPCI’s AI-Driven Risk Scoring to Help Banks Combat UPI Fraud

The National Payments Corporation of India (NPCI) is testing AI models to curb fraudulent digital transactions, NPCI Chief Risk Officer Viswanath Krishnamurthy disclosed in a recent interaction with the press. Krishnamurthy’s comments come as UPI fraud rose 85% in FY 2023-24 from the previous year, amounting to a loss of Rs 1,087 crore. What systems is NPCI leveraging? The organization is utilizing analytical AI models to identify fraudulent acc…