Financial fraud is a huge problem for banks and fintech companies. It's tough to catch manually and needs to be detected instantly. That's why Miden, a company that handles payments and banking in Africa, teamed up with GoML. Together, we built a new  transaction monitoring tool, which uses advanced machine learning and AI, to watch transactions and detect fraud. It's cutting down costs and making digital payments much safer.

The problem: manual monitoring and delayed fraud detection

Across the fintech industry, manual transaction monitoring is expensive, time-intensive, and highly dependent on specialist availability. For Miden, a surge in transaction volumes and limited monitoring capacity meant that fraud detection was significantly delayed, creating substantial financial security risks.

The lack of a real-time transaction monitoring tool, high operational costs, and the need for expert interpretation created a bottleneck. Moreover, traditional monitoring systems faced challenges like false positives, delayed alerts, and inefficiency at scale, rendering them impractical for modern fintech deployment.

An AI-powered transaction monitoring tool wasn't a nice-to-have, it was a strategic imperative to deliver real-time fraud detection at scale without compromising accuracy or operational efficiency.

The solution: AI-powered transaction monitoring tool for speed and scale

To tackle these barriers, Miden deployed a comprehensive Gen AI tool integrated seamlessly into their banking infrastructure. The AI-powered transaction monitoring tool enabled real-time anomaly detection and automated monitoring workflows, unlocking instant fraud detection.

Complete monitoring support everywhere

• AI-driven analytics dashboard enables real-time insights into transaction patterns and anomalies, perfect for continuous monitoring across all channels.

• Automated anomaly detection, deployed via AWS infrastructure, powers instant fraud identification, aiding financial analysts with precision insights.

Fast, smart classification

The models classify transactions into risk categories, suspicious, normal, and flagged for review, within seconds, enabling targeted human-in-the-loop analysis and intervention.

Built for scale and performance

• AWS Lambda ensures fast, serverless computing for real-time processing

• Data stored securely in AWS S3 and Postgres for structured management

• Seamless integration with banking applications via containerized Docker deployment

• Python and RDBMS power the core analytics engine

Clear results where it matters

• Real-time alerts delivered via dashboard to analysts and risk teams

• Integrated secure access ensures proper authentication for financial professionals

• Analytics enable administrators to monitor transaction trends and fraud patterns

The impact: smarter monitoring, faster detection, and broader protection

GoML's Gen AI transaction monitoring tool is helping Miden ensure financial security at scale. With real-time, automated fraud detection available across all transaction channels, the system enables more proactive, timely interventions, demonstrating the power of AI for enterprise-level financial protection.

• 75% improved transaction processing scalability with AI handling growing volumes effortlessly

• 82% faster anomaly detection, minimizing fraud response time and financial losses

• 67% reduction in manual monitoring effort, reducing operational costs and human dependency

Lessons for other financial institutions

What Miden learned from deploying an AI transaction monitoring tool:

Common pitfalls to avoid

• Using generic fraud detection models without customization for specific transaction patterns

• Ignoring infrastructure requirements for real-time processing and scalability

• Treating Gen AI as a research tool rather than a core operational enabler

Advice for fintech teams facing similar challenges

• Design scalable AI systems: lightweight for speed, comprehensive for accuracy

• Start with a focused use case, like high-value transaction monitoring, for quick adoption

• Partner with tech teams that understand financial workflows, not just AI algorithms

Want to monitor more transactions, more accurately, with fewer resources?

Let GoML help you bring a Gen AI transaction monitoring tool to the heart of finance.