Bank of Baroda to Spearhead India’s First Digital Payments Intelligence Platform

Bank of Baroda has announced its acquisition of a 50% stake in the newly formed Indian Digital Payment Intelligence Corporation (IDPIC), marking a major leap in India’s fight against digital payment fraud. IDPIC, set up as a Section 8 company under the Companies Act, 2013, will function as a not-for-profit digital payments intelligence platform, leveraging advanced technologies like AI, machine learning, and blockchain to centralize fraud detection and prevention across banks and financial institutions.

 

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Source:  BSE Corporate Announcement, RBI regulatory filings, Bank of Baroda official announcements, and leading financial news outlets.