The Rising Tide of APP Fraud: Harnessing AI for Real-Time Detection

The financial sector is grappling with a formidable adversary: Authorized Push Payment (APP) fraud. This sophisticated financial deception has swiftly become the biggest threat to banks and their customers. Projections indicate that losses from APP fraud could reach an alarming $6.8 billion by 2027. As perpetrators refine their methods, conventional fraud detection approaches are falling short, exposing financial institutions and clients to significant risks. This evolving landscape demands a radical rethinking of fraud prevention strategies, with artificial intelligence emerging as a pivotal tool in the fight against financial crime.

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Leveraging AI for Real-Time Protection in Financial Services

Explore how AI-powered solutions like Maveric's are revolutionizing fraud detection in banking, combating APP fraud with real-time vigilance, precision, and adaptability.

Why Real-Time Onboarding is the Future of Customer Onboarding in Banking?

On an average, banks take around 1-2 days to onboard a retail customer and around 3-5 days for a corporate customer (solo, micro and small enterprises). Leading studies indicate that 85% of corporate customers encounter cumbersome KYC processes leading to frustration and subsequent deflection to another bank.

Maveric Solution Customer Onboarding enable banks to onboard retail and corporate customers in 8-10 clicks, completing the process in near real-time.

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