This digital payment solution is endorsed by over 30 public, private, and cooperative banks, and as per The daily News, the platform is free to use and facilitates QR code payments and transfers between customers via smartphone, without requesting the bank identification number.
ARIC Risk Hub is powered by Adaptive Behavioural Analytics, a Featurespace invention, and it is a fraud detection and financial crime prevention platform with fully adaptive ML models that deliver real-time transaction monitoring for fraud and financial crime. Via this, banks and payment providers are allowed to spot more fraud and suspicious activity as it happens, while also reducing the number of genuine transactions declined.
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