AWS is helping India’s banking sector streamline operations with GenAI, reducing KYC processing time, and preventing fraud.
AWS is helping India’s banking sector by integrating GenAI to automate KYC processes, enhance fraud detection, and improve customer service. Enabling financial institutions to operate with greater speed, security, and efficiency. Many financial institutions in India face challenges in scaling KYC processes and managing fraud detection due to high transaction volumes. AWS is addressing these issues by integrating GenAI with financial services firms like HDFC Securities, Axis Bank, and Razorpay. For fintech startup Dhan, GenAI automated 25% of the KYC process. Cutting wait times by 50% and reducing operational costs by 30%. The AI-driven chatbot, powered by Amazon Bedrock and Lex, provides 24/7 multilingual support, handling complex queries with seamless live agent integration.
In fraud detection, AWS enables real-time risk assessment by leveraging AI models that analyze vast datasets to identify suspicious patterns. Razorpay, for example, deployed an AI-powered system to minimize payment failures, which significantly impact e-commerce revenue. Additionally, AWS ensures the resilience of India’s Unified Payments Interface (UPI) by providing cloud infrastructure that scales automatically, preventing transaction bottlenecks and maintaining system reliability. AWS’s availability zones ensure that banking platforms handle millions of real-time transactions without downtime.
Beyond banking, AWS is investing in AI adoption across industries, training 5.9 million professionals and expanding its cloud infrastructure in India with an $8.3 billion investment. By integrating AI into security, compliance, and automation, AWS is driving digital transformation in financial services, enabling banks to operate with greater efficiency, security, and scalability.