PANOPLIA.IO COMBATS CYBER FRAUD IN INDIA WITH AI-BACKED SOLUTIONS

In the fast-evolving landscape of cyber threats, Panoplia.io, a Hyderabad-based AI cybersecurity firm founded by Pratyusha Vemuri, stands as a formidable shield against online scams and financial fraud in India. The genesis of Panoplia.io can be traced back to Vemuri's personal experience, where she fell victim to an online scam during a Diwali sale. This incident propelled her to establish a robust solution that not only protects users but also contributes to the overall security of digital transactions.

The Scourge of Cybercrime in India

According to a 2020 survey by Norton LifeLock, India incurred losses amounting to Rs 1.24 trillion in the preceding 12 months due to cybercrimes, with a staggering 63% of victims suffering financial losses. Recognizing the magnitude of this issue, Vemuri's mission with Panoplia.io is to provide advanced fraud prevention solutions to both individuals and businesses, leveraging cutting-edge technologies such as algorithms, machine learning models, and real-time monitoring systems.

Panoplia.io: Fortifying Digital Interactions

Named after the Greek word for 'armour,' Panoplia.io aims to fortify every digital interaction by offering real-time fraud detection and prevention solutions. The platform utilizes patented AI and blockchain technology to safeguard users' digital identities, ensuring a secure online environment. Pratyusha Vemuri, with a 19-year professional background in cybersecurity and fraud prevention, draws from her experience as the former head of product identity, security, and privacy at Microsoft.

AI Kavach: Empowering Users Against Frauds

Panoplia.io's flagship offering, the AI Kavach app, available on the Google Play Store, empowers users with protection against fraudulent websites, messages, and apps. Priced between Rs 99 and 179 per year, the app provides real-time predictions about the legitimacy of online content, issuing alerts when users encounter potential threats through platforms like Google, Instagram, and Facebook. AI Kavach also extends its protective capabilities to monitor financial transactions, employing machine learning to detect patterns indicative of fraudulent payments, QR code frauds, and mobile payment scams.

Deep Learning and AI Tech: Staying Ahead of Scammers

In the battle against new-age scams, Panoplia.io relies on deep learning and AI technologies. By understanding and countering the deep learning techniques employed by fraudsters in phishing campaigns and malicious ad targeting, Panoplia.io ensures it stays a step ahead. Importantly, the platform prioritizes user privacy, affirming that it neither tracks nor stores personal data, only monitoring URLs in real-time.

Growth Trajectory and Expansion Plans

Operating as a bootstrapped venture, Panoplia.io has garnered support from family, friends, and advisors, along with incubation support from organizations like Cybersecurity Centre of Excellence, Data Security Council of India, T-Hub incubator, and NASSCOM 10,000 Startups. AI Kavach has witnessed impressive growth, achieving a 5x increase and an 8% conversion rate from downloads to paid subscriptions within four months of its launch, accumulating over 25,000 downloads on the Google Play Store.

As part of its expansion strategy, Panoplia.io aims to enter the B2B space, offering solutions such as phishing prevention, fraudulent website detection, real-time transaction security, and continuous website monitoring. The company is currently in talks with potential customers and plans to forge partnerships with e-commerce firms to provide its solutions as value-added services. Additionally, collaborations with mobile carriers to pre-install the app on phones and the creation of a user community for reporting frauds and seeking immediate assistance are integral components of Panoplia.io's forward-looking go-to-market strategy.

In essence, Panoplia.io emerges as a beacon of security in the face of escalating cyber threats, contributing to the creation of a safer digital future for users in India.