NPST Launches AI Risk Intelligence Platform for Public Sector Banking
NPST to deploy its AI-powered risk intelligence and decision platform for public sector bank
Business Standard
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Network People Services Technologies (NPST) has been contracted by a public sector bank to implement its AI-driven Risk Intelligence and Decision Platform (RIDP). This platform enhances merchant underwriting and monitoring, ensuring compliance and risk management throughout the merchant lifecycle.
- 01NPST's RIDP will be used for merchant underwriting and monitoring.
- 02The platform operates on a cloud-native, modular architecture.
- 03It automates compliance with regulations like Know Your Customer (KYC).
- 04The system flags significant changes in merchant details for re-underwriting.
- 05NPST's solution generates recurring revenue through a fully managed SaaS model.
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Network People Services Technologies (NPST) has secured a significant contract with a public sector bank to deploy its AI-powered Risk Intelligence and Decision Platform (RIDP) aimed at enhancing merchant underwriting and monitoring. The cloud-native platform utilizes a modular architecture to manage merchant risk across both online and Point of Sale (POS) channels, covering the entire merchant lifecycle from onboarding to ongoing monitoring. NPST's RIDP operates as a fully managed Software as a Service (SaaS) model, which includes technology, operational support, and regulatory updates, thereby generating recurring revenue for the company. The platform automates critical regulatory compliance processes, such as Know Your Customer (KYC) and Know Your Bank (KYB), through regular verifications of essential documents like Goods and Services Tax (GST) numbers and Corporate Identification Numbers (CIN). Additionally, RIDP employs automated website crawling to identify prohibited content and potential fraud, ensuring that any significant changes in a merchant's business are flagged for re-underwriting.
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The deployment of NPST's RIDP will streamline risk management for the public sector bank, potentially reducing fraud and improving compliance, which could enhance customer trust and operational efficiency.
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