Pi was developed from scratch at its innovation lab because existing fraud management systems were not fast enough or robust enough to handle the hundreds of millions of decisions required each day by Paytm.
Pi is now handling five billion rule evaluations and 500 million decisions each day and is in use among some of the world's largest fintechs. Those include PayPay, whose mobile money solution is one of Japan's largest mobile payment app with 38 million users. It is also in use among several of Paytm's key financial properties including Paytm Payments Bank, Paytm Money, and Paytm First Games.
Pi was built with speed of response in mind, with the aim of reducing the mean time-to-react to threats. According to internal data, Pi can make decisions two times faster than the industry average, based on the average decision-making time of 100-200ms in the fraud industry. The system is built on auto-adjusting machine learning models, which have learned to identify patterns and outliers. It is also capable of addressing ‘unknown unknowns’, meaning that it future-proofs itself by evolving to react to as-yet unknown attack vectors which may appear in the future.
Part of the reason that Pi has been successful is that it ingests data from throughout a financial provider's ecosystem, to pinpoint attack patterns. That holistic view is necessary to combat sophisticated fraudsters, as vulnerabilities can be exploited from outside of the company's core technology stack.
Pi is managed through a single centralised hub. Rules can be managed without the need for coding and can be edited in minutes via a low-to-no-code dashboard. It can be tailored to the needs of the fintech, bank, or ecommerce marketplace within weeks.
Paytm Intelligence (Pi) is the innovation and development centre of Paytm, one of the largest and most innovative financial technology companies in the world. Pi’s marquee solution is a fraud risk management platform that connects data signals from across the customer journey into one central decisioning hub.
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