Challenges
Redmil grappled with escalating issues stemming from fraudulent transactions, which exposed critical vulnerabilities in its verification processes. The platform encountered several challenges:
- Frequent Misuse of IDs
Multiple individuals repeatedly used the same IDs, exploiting gaps in the system.
- High Volume of Fraud Cases
Up to 2.5 million fraudulent cases occurred monthly, causing significant financial losses.
- Reputational Risk
These incidents eroded customer trust and threatened the platform’s credibility.
- Inefficient Verification
The existing processes lacked the robustness needed to detect and prevent sophisticated fraud, leaving the company struggling to secure its operations effectively.
98%
reduction in transaction fraud
2.5
million monthly fraud cases countered
“With Arya AI's Face Verification and Passive Face Liveness Detection API, we've improved the security on our FinTech platform for user verification during transactions. Our vulnerability to fraud due to identification errors has already reduced by 98% within six weeks of integrating these APIs. This new process has helped us provide an amazing user experience. Incorporating these APIs has been extremely cost-effective and helped us solidify our standing among users. Kudos to the Arya Al team for the groundbreaking technology that is making a real good impact on our business.”
Sagar Singhal
CoFounder & CEO
Solution
To combat these challenges, Redmil partnered with Arya AI to implement advanced AI-driven identity verification solutions. These APIs were designed to ensure both accuracy and scalability while seamlessly integrating with Redmil’s existing systems.
Key highlights of the Arya AI solution include:
- Passive Face Liveness Detection: This feature validated live selfie captures, effectively preventing the misuse of static images and ensuring that only genuine users could access the platform.
- AI-Powered Face Verification: By cross-referencing selfies with Redmil’s database, this API ensured accurate identity matching, reducing fraudulent transactions significantly.
- Seamless Integration: Arya AI’s APIs were tailored to align with Redmil’s workflows, enabling a frictionless implementation without disrupting operations.
Results
The implementation of Arya AI’s identity verification solutions delivered outstanding results for Redmil:
- Seamless Deployment
The solutions were deployed quickly and efficiently, with no disruption to ongoing operations, ensuring business continuity.
- Enhanced Fraud Prevention
Passive Face Liveness Detection and Face Verification effectively blocked spoofing attempts, resulting in a 98% reduction in transaction fraud within just six weeks.
- Improved Security
The robust identity verification process strengthened Redmil’s security measures, greatly reducing the risk of fraudulent activities.
- Operational Efficiency
The streamlined verification process reduced manual interventions, optimizing operations and significantly boosting overall efficiency.