Private banks in Mumbai are utilizing AI and advanced technology to enhance security and prevent fraud. They are introducing methods like mobile app-generated OTPs, biometrics, and customer-controlled payment options. Banks like Axis and HDFC are implementing time-based OTPs, transaction monitoring, and automated responses to safeguard against unauthorized transactions, significantly reducing customer fraud risk.
from Banking/Finance-Industry-Economic Times https://ift.tt/IFmPDwx
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