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Over 6,800 cases of bank fraud involving an unprecedented Rs 71,500 crore were reported in 2018-19.

Source: Business Standard | 2019


A new wave of digital technology has transformed the BFSI landscape in the past few years. On one hand, it has created new job opportunities, on the other has brought banking within the reach of a common man, demanding better checks and controls. Thus, background verification has assumed a greater significance for this sector – be it verification of employees, KYC of customers or verification of business associates.

Our KYC and Risk Profiling Platform: TruthScreen™

TruthScreen™ provides data-based authentication using AI, ML and deep search algorithms to enable instant KYC and faster account opening and onboarding.

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At 11.46% and 10.13% respectively, the BFSI sector saw one of the highest discrepancy rates across industries for the financial years 2017 and 2018.
More than 50% frauds in the BFSI sector are reported to have been committed by an insider.

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