HDFC Bank develops own AI platform, fraud monitoring system

HDFC Bank has developed an in-house generative AI platform called Neev to automate operational processes, built by a dedicated AI team of 150-200 employees at its Gurgaon engineering centre. The bank has also built a proprietary real-time fraud monitoring streaming platform that can detect and block suspicious transactions, including money mule activity, within microseconds. The lender is also building its own small language models (SLMs) to strengthen its position as a technology-driven bank.