Detecting anomalies in debit card transactions with Hyperautomation

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    Detecting anomalies in debit card transactions with Hyperautomation

    Detecting and preventing debit card fraud is one of the key challenges faced by the Banking sector. If not identified in time, it can result in huge financial losses each year causing grave impacts on customer satisfaction and brand image. To address this threat, banks across the globe are looking for suitable technologies offering convenience and accuracy. Hyperautomation is one of the most promising technologies that can help banks identify fraudulent transactions and resolve them instantly. 

    Hyperautomation is an end-to-end automation technology enabling organizations to streamline and improve business processes with minimal human intervention. It uses a combination of Robotic Process Automation (RPA), Machine Learning (ML), and Artificial Intelligence (AI) to augment human performance and enhance productivity. 

    Role of Hyperautomation in detecting debit card frauds

    1. Data gathering

    Hyperautomation helps in obtaining information concerning disputed transactions. Optimum utilization of RPA tools helps in selecting the exact date range to export the transactional data. Bots help compile relevant information from the public domains or internal databases providing a holistic view to the analysts for ensuring customer safety.  

    2. Data processing

    RPA helps in determining anomalies and identifying fraud patterns by removing duplicates, interpreting data correctly from unstructured sources, and predictive analysis. By using AI technologies such as Optical Character Recognition, data is easily validated and the reliability of transactions is ascertained.

    3. Decision making

    Hyperautomation helps in maintaining and tracking transactional rules and regulations efficiently. From minimizing human-induced errors to ensuring data validity, RPA tools perform multiple tasks with ease and convenience. During instances of fraudulent transactions, advanced technologies respond instantly and alert the concerned authorities to take corrective measures. This enables banks to take immediate decisions while safeguarding the interests of the users and ensuring satisfaction and loyalty. 

    4. Identifying suspicious transactions

    RPA being an automation technology has gained prominence in safeguarding accounts or card details from being compromised. Banks are increasingly using this technology to alert authorities immediately in case card details get hacked or are blocked for any transactions. ML systems improve fraud detection with accurate results, thereby making ML security implementation vital for banking infrastructures. 


    Whether it is advanced security needs, or core banking operations customers expect access to the banks anytime, anywhere. Leveraging Hyperautomation helps banks do just that by automating processes to improve efficiency, enable quicker response at less cost, and ensure service consistency. After years of incremental changes in silos, it’s time for banks to adopt automation technology and fundamentally reimagine core operations to suit the new digital reality. 

    How can Neebal help?

    Neebal’s Hyperautomation capabilities enabled a leading Bank to automate business processes, eliminate human-induced errors and facilitate digital transformation. This helped the Bank in mitigating tedious processes and eliminating human errors while streamlining trade operations. Read the full case study here. 

    Schedule a call if you are looking for automation experts to begin your digital transformation journey the right way!


    Topics: RPA Solutions, Hyperautomation