KSUM backed startup launches AI-backed solutions for banking sector

IGNOSI’s AI Fake-Gold Detection Application strengthens banking security

Trivandrum / October 16, 2025

Thiruvananthapuram, Oct. 16: Fintech startup IGNOSI Enterprises, a venture backed by Kerala Startup Mission (KSUM), has launched breakthrough AI solution that for the entire spectrum of financial enterprises including banks to improve their efficiency to detect fake assets and fraudulent practices.

IGNOSI’s AI Fake-Gold Detection Application, a pioneering AI system designed to help banks, cooperative societies, and financial institutions is designed to identify fake gold loan cases through facial detection and fraud-pattern analysis by instantly alerting institutions about suspicious customers linked with previous fake-gold fraud records.

This breakthrough solution addresses fake gold pledging cases, a frequent issue faced by cooperative banks and private financiers in Kerala, and strengthens preventive banking security through indigenous AI innovation.

The other new product of IGNOSI is an AI-Powered Registration Counter, which can process live member registrations in real time using photo capture and instant firm verification.

As the official technology partner of All Kerala Private Bankers Association (AKPBA), IGNOSI launched these two at the 67th AKPBA meeting recently, which was inaugurated by Finance Minister Shri K.N. Balagopal.

ENDS