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2 clusters · 9 sources · 4 days · First seen 6 days ago · Last updated 3 days ago

Razorpay launch of Vulcan AI payments model

Overview

Razorpay, an Indian fintech company, has launched Vulcan, which is described as India’s first transformer-based AI foundation model specifically built for the payments sector. Developed in collaboration with NVIDIA and Amazon Web Services (AWS), the proprietary model aims to optimize transaction routing, reduce payment failures, and enhance security.

The model was trained on approximately 3 trillion data points across 4 billion payments. Early deployment has reportedly resulted in an 8-10% improvement in payment success rates and an eightfold increase in the detection and prevention of international card fraud. Furthermore, the technology has identified five times more fraudulent or disputed transactions without increasing alert volumes, and its implementation on the Magic Checkout platform has reportedly increased monthly purchases by 100,000 to 200,000.

Entities

Nvidia · Amazon Web Services · Razorpay · Kuala Lumpur Football Association · Appasia Capital

Timeline

3 days ago

[BUSINESS] 3 sources
Appasia Capital sues KLFA officials as Razorpay launches AI payment model
Appasia Capital sues KLFA officials over a RM1 million loan for player salaries, while Razorpay launches Vulcan, an AI model built with NVIDIA and AWS to improve payment success and fraud detection.
6 days ago

[TECHNOLOGY] 6 sources
Razorpay launches Vulcan, an AI-powered payments foundation model
Razorpay has launched Vulcan, an AI-powered payments foundation model built with NVIDIA and AWS to improve transaction reliability, success rates, and fraud detection in India.

Sources

bfsi.eletsonline.com · equitypandit.com · fintechnews.my · fintechnews.sg · inc42.com · morungexpress.com · smestreet.in · socialnews.xyz · yespunjab.com