Razorpay Launches AI Foundation Model Vulcan To Expedite Digital Payments

Indian fintech company Razorpay has introduced Vulcan, an artificial intelligence foundation model aimed at speeding up digital payments and improving their reliability and security. The model was built using technology from NVIDIA and AWS.

Vulcan integrates Razorpay's payment data with NVIDIA's accelerated computing power and AWS's cloud infrastructure. It is a proprietary model, developed entirely by Razorpay, with both its architecture and training data owned by the company. Unlike language models that process text, Vulcan is designed to learn patterns in money movement and detect suspicious transactions in real-time.

Razorpay claims Vulcan can improve payment success rates by 8-10% and increase the detection of international card fraud eightfold. It also identifies fraudulent or disputed transactions five times more often without increasing alerts. The model further assists in completing purchases by showing users their preferred payment app.

CEO Harshil Mathur described the model as a system that learns from every transaction, leading to continuous improvement. This launch coincides with Razorpay's preparations for an initial public offering on the Indian stock exchange.