We developed the market-level working prototype of a suptech application that can detect and flag fraudulent fintech apps based on metadata across the web. The solution includes data collection and validation mechanisms, storage mechanisms, machine learning (ML)-based analytics, and interfaces for additional future products to integrate with.

This solution was conceived by a team of the Reserve Bank of India through one of our training programmes.

Benefits:

• Reduce fraudulent activities and enhance the robustness of the fintech ecosystem
• Mitigate reputational risks by pre-emptively screening out malicious apps
• Generate consumers awareness about fraudulent apps and due diligence
• Alert consumers of fraudulent apps through tools built on top of this working prototype
• Increase consumers’ confidence in the digital financial ecosystem