AI-Powered Transaction Monitoring for Miden
Business Problem
Miden’s transaction monitoring process required significant manual effort, with employees scanning transaction logs, digesting analytics, and identifying anomalies. This manual approach led to:
About Miden
Miden is a modern issuer processor and banking stack that enables businesses to integrate financial features, including seamless payments, reconciliation, instant virtual cards, and account opening. They are on a mission to redefine financial transactions with enhanced security and efficiency. By leveraging AI, Miden aims to automate transaction monitoring and streamline operations.
Solution
goML collaborated with Miden to develop an AI-powered Transaction Monitoring MVP, leveraging AWS’s advanced AI infrastructure to automate monitoring, enhance data usability, and improve system interaction through a conversational AI chatbot. This 10-week initiative significantly reduced manual efforts and improved operational efficiency.
1.
AI-Driven Analytics Dashboard – Built using Python, RDBMS, and AWS S3, providing real-time automated insights into transaction data for enhanced visibility and decision-making.
4.
GenAI Training & Enablement – Equipped Miden’s team with AI adoption strategies using AWS AI services and automation frameworks for long-term scalability.
2.
Conversational AI Chatbot – Developed using AWS Bedrock with Claude V3, allowing employees and customers to query financial data for faster access to insights.
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Secure & Scalable Processing – Implemented using AWS Lambda for serverless computing, AWS S3 for secure storage, and RDBMS for structured data management, ensuring seamless AI-driven transaction monitoring.
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Automated Insights & Anomaly Detection – Powered by Machine Learning Libraries and Predictive Analytics, reducing manual transaction monitoring through AI-driven pattern recognition.
