Following this announcement, Airtel Payments Bank has successfully integrated its systems with the National Cybercrime Reporting Portal (NCRP)-Citizen Financial Cyber Fraud Reporting and Management System (CFCFRMS) of the Indian Cybercrime Coordination Centre (I4C) through the help provided by the Ministry of Home Affairs Application Programming Interface (API).
In addition, the company will continue to focus on its commitment to fight against financial fraud and safeguard customer interest. Airtel Payments Bank will also prioritise the process of meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while remaining compliant with the regulatory requirements and laws of the industry as well.
Throughout this initiative, the secure API integration is set to automate the manual actions previously undertaken by banks in response to complaints lodged through the I4C, National Cybercrime Reporting Portal including the 1930 helpline. In addition, real-time information sharing between Airtel Payments Bank, I4C, and the Ministry of Home Affairs will ensure faster, more logical processing of cybercrime complaints, while also providing I4C and the Ministry of Home Affairs with various details, including complaint numbers, mobile numbers, account numbers, reported fraud amounts, and transaction references, among other. The system will allow the bank to take immediate action thereby preventing further misuse of accounts reported as well.
In addition, post API integration, Airtel Payments Bank along with other banks has shown significant improvement in the turnaround time resulting in the holding of the crime proceeds within the overall digital financial ecosystem. The integration with I4C and the Ministry of Home Affairs aligns with the bank’s strategy to offer a technology-driven approach to address the growing menace of financial frauds that are prevented in the current digital-first environment.
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