HDFC Bank launches 'Neev' AI platform and in-house fraud system
Technology
HDFC Bank just rolled out its own AI platform called Neev, plus a real-time fraud detection system, both built in-house; the AI platform was developed by a team of 150 to 200 engineers over the past 18 months.
The goal? To make banking smoother, smarter, and safer for everyone.
HDFC's fraud tool blocks UPI scams
The new fraud detection tool scans transactions instantly, blocking shady money transfers and UPI scams in microseconds.
Unlike most banks, HDFC built this tech completely in-house to keep things secure and under control.
They've also upgraded their KYC checks with Aadhaar validation and fingerprint authentication.
As CIO Ramesh Lakshminarayanan puts it, "If you do not have your own engineering talent and your own platforms, you will not be able to compete."