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PNB to Use Artificial Intelligence to Bolster Fraud Detection Mechanisms
May 10, 2018
Public sector Punjab National Bank (PNB) said that it’s going to rely on Artificial Intelligence (AI) for its corporate analytics processes as well as the reconciliation of accounts to prevent recurrence of scams like the Nirav Modi scam in the future.
PNB said that it’s already taken several steps in that endeavor. It also said that apart from AI and analytics, it has bolstered the underwriting measures and the internal audit process to minimize frauds-related risks.
