endorsedOngoing

AI Fraud Detection System for Fintech Startup

Services Covered:

AI and Machine Learning • API Development • Cloud Infrastructure Management

Industry

Financial Services

Duration

21 months

Budget

50K - 199K

Start Date

1 November 2024

Team Size

1-5 Employees

Engagement Model

Offshore

Project Capability Score (PCS)

75/100

Good

Project Capability Score (PCS) estimates how capable Bonami Software is of successfully delivering a project like this, based on its past experience, track record, and ability to handle similar work. Learn more about PCS

Client

Confidential

United States of America

Project Summary

Bonami Software designed and implemented an AI-powered fraud detection system for a fintech startup, building TensorFlow models, APIs with Python (FastAPI), and deploying containerized services on AWS. The solution reduced fraud-related losses by 40% within three months and achieved 95% accuracy flagging suspicious activity while remaining scalable for transaction spikes.

Key Challenges

Minimize fraudulent transactions through AI-powered detection
Improve platform reliability during transaction processing
Build customer trust by accurately identifying fraud

Project Deliverables

Fraud detection engine blueprint
ML models for anomaly detection (TensorFlow)
Real-time scoring APIs (Python / FastAPI)
Deployed models on AWS SageMaker
Integration with Amazon DynamoDB
Containerized services for production (Docker, AWS ECS)
Cleaned and preprocessed historical transaction datasets

Project Solution

Bonami reviewed the existing architecture, produced a blueprint for a fraud-detection engine, cleaned and preprocessed historical transaction data, designed TensorFlow-based anomaly-detection models, deployed models using AWS SageMaker, built real-time scoring APIs with Python (FastAPI), integrated results with Amazon DynamoDB, and containerized services for production deployment (Docker, AWS ECS). The team worked as a small engagement of two Bonami teammates.

Project Outcome

Reduced fraud-related financial losses by 40% within three months
Flagged suspicious activity with 95% accuracy
Delivered a scalable system able to handle transaction spikes
Delivered on time with regular video-call communication

Platforms

Cloud

Tech Stack

TensorFlow
Python
Fast API
Amazon DynamoDB
Amazon Web Services (AWS)

Client Endorsement

Overall Review Rating

Timeliness

Cost Rating

Willing to Refer

Quality of Deliverables

“Bonami Software's solution has reduced fraud-related financial losses by 40% within three months and flagged suspicious activity with 95% accuracy. The team has impressed the client with their technical expertise, excellent communication via video calls, and ability to deliver on time.”
Samar Bhardwaj
CEO
Date: 09/09/2025