As payment technologies become more secure and sophisticated, so do the techniques used to break them and steal money. Introduction of Europay, Mastercard and Visa cards (EMV), regulations for e-commerce websites like GDPR and PCI-DSS and contactless payments over smartphones have gone a long way to enhance the security in retail payments. However, fraudsters are finding new tactics to hack into these advanced payment technologies. Therefore, fraud detection and prevention systems need to be continuously upgraded to keep up with new payment technologies as well as the new methods used to perpetrate fraud. In this article, we will focus specifically on how AI is used to prevent threats due to payment frauds.

1. Number of BOTS needed? Depending on SW supplier there are many different ways to calculate this. The big three (Automation Anywhere, Blue Prism and UiPath) all have robots that can handle many processes each. It is up to each SW integrator (the one running the project) and the customer to decide how heavy they want to utilise the Robot. In my experience, one always start with one robot for one process, then scale up. If the robot does not start off properly it is easy to stop it and, while fixing the robot, fall back on manual work (BAU). Then one can add another process on top of that to the Robot. I have seen a robot work three different processes in the same department. If the input into a process is a Mail pdf and or an .xsl As the robots can scrape the text off the pdf or read individual cells, it is easy. Look at number of people involved, how long it takes them, cycle time for the process. Then look at what parts are recurring and to what degree. That is a good question and the assessment will ask the following questions: Is the task/process is recurring? What IT systems are involved? Does it require changes in processes upstream/downstream? If the answers to these and other technically related questions can be answered and the business case says yes, then it's just to roll out your first RPA project! I hope this answers your questions, Vinod. If you have any others, please let me know.