Paisabazaar, India’s largest lending marketplace, has introduced an advanced Fraud Detection and Prevention System powered by machine learning and real-time analytics. The system aims to identify and mitigate fraudulent activities, ensuring a secure and transparent lending ecosystem. With a robust risk-scoring mechanism and continuous monitoring, it categorizes consumers into low, medium, and high-risk groups, restricting high-risk users and scrutinizing medium-risk profiles.
Chief Business Officer Gaurav Aggarwal emphasized proactive prevention as a priority for responsible lending, leveraging cutting-edge technologies to enhance trust and security. Paisabazaar plans to refine its fraud detection capabilities through internal innovation and collaboration with industry stakeholders.
