In a rapidly digitising Asia, cyber fraud has become a pressing issue, resulting in losses of over 100,000 crores every year. This calls for a localised, AI-based solution to protect users in real-time.
Panoplia Digital Protection, led by Founder and CEO Pratyusha Vemuri, rises to this challenge.
With their innovative fraud detection platform, they provide patented AI-based alerts in local languages, collaborating with local cybercrime units for real-time updates.
What Is Panoplia Digital Protection?
Panoplia Digital Protection is an AI-based cyber fraud protection company that focuses on providing real-time detection of fraud SMS, fraud websites, and fraud calls on smartphones. With the rapid digitalization in Asia, cyber frauds have become a pressing issue, causing losses of over 100,000 crore every year. Panoplia Digital Protection aims to solve this problem by offering patented AI-based alerts in real-time, collaborating with local cybercrime authorities to stay ahead of news, and providing accessibility in local languages.
What sets Panoplia Digital Protection apart from its competitors is its ability to offer real-time fraud detection. By using advanced algorithms and continuously monitoring activities, Panoplia is able to quickly detect and respond to fraudulent activities, minimising financial losses and enhancing security in online transactions. Additionally, the platform supports multiple local languages, making it more accessible and user-friendly for a diverse customer base. Panoplia also established strategic partnerships with local government agencies to receive timely notifications and insights on emerging fraud trends.
Panoplia Digital Protection Founders
Pratyusha Vemuri is the Founder and CEO of Panoplia Digital Protection. With a background in security and over 18 years of experience, Pratyusha has worked at esteemed companies like Microsoft as the lead of identity and security.
Pratyusha’s inspiration to venture into the cyber fraud protection industry stems from her personal experience with cyber fraud. Having fallen victim to a scam despite her expertise, she realised the need for a robust solution in the face of rapidly digitising Asia.
In the early days of Panoplia, Pratyusha faced limited resources but secured seed funding to address financial constraints. She also focused on building a competent team by networking and attracting skilled professionals who shared her passion and drive. Additionally, she developed a market presence through strategic partnerships, adapting to market needs, ensuring regulatory compliance, and learning about the unique challenges of the Asian market.
By utilising advanced algorithms and continuously monitoring activities, they swiftly detect and respond to fraudulent activities, minimising financial losses and enhancing security in online transactions. Their platform also offers multilingual support and they have established strategic partnerships with local government agencies for timely insights into emerging fraud trends.
Interview with Pratyusha Vemuri, Founder and CEO of Panoplia Digital Protection
Q: What led you to venture into the AI-based cyber fraud protection industry?
A: Despite having 18+ years in the security background and working at Microsoft as the lead of identity and security, I experienced a cyber fraud case myself. I realised that fraudsters have become extremely proficient at scams, and with the rapid digitalization on smartphones, I felt it was imperative to have this kind of solution.
Q: Can you tell us a bit about the early days of Panoplia Digital Protection?
A: In the early days, we faced limited resources and financial constraints, which we addressed through securing seed funding and optimising expenses. We also focused on building a competent team by leveraging networking, both offline and online, to connect with skilled professionals who shared our passion. Additionally, we developed a market presence by building strategic partnerships, adapting to market needs, ensuring regulatory compliance, and learning about the unique challenges of the Asian market.
Q: How does Panoplia differentiate itself from its competitors?
A: Panoplia.io offers advanced fraud prevention solutions that provide comprehensive protection to individuals and businesses. Our unique selling propositions include real-time fraud detection through advanced algorithms and real-time monitoring. We also provide multilingual support to cater to diverse customer bases and have established strategic partnerships with local government agencies to stay updated on emerging fraud trends. Furthermore, we leverage patented AI technology and blockchain security to analyse data, detect patterns, and ensure transaction security for trust and reliability.
Q: What are Panoplia Digital Protection’s plans for the future?
A: We plan to expand our offerings to include digital identity theft protection, credit card security, and UPI security. These additions will further enhance our ability to safeguard individuals and businesses from online fraud.
Q: What advice do you have for aspiring entrepreneurs looking to start their own business?
A: Some key advice I would offer is to define your vision clearly, commit to continuous learning, embrace failure and adaptability, build a strong network, surround yourself with a great team, develop leadership skills, stay customer-centric, maintain ethical and transparent practices, embrace technology and innovation, and prioritise self-care for a healthy work-life balance.
Q: Can you provide some statistics about the fraud prevention market and Panoplia’s growth?
A: The global fraud prevention market is valued at $45 billion. Moreover, Panoplia Digital Protection has achieved 10,000 downloads within just 10 days of starting our marketing efforts.
Feedough’s Take on Panoplia Digital Protection
Panoplia Digital Protection stands out in the competitive cyber fraud protection industry with its real-time detection capabilities, multilingual support, and strategic partnerships with local authorities. The company’s founder, Pratyusha Vemuri, has a strong background in security and has leveraged her personal experience with fraud to build a successful business. With plans for future expansion and a focus on continuous learning and innovation, Panoplia is poised for further growth in the market.
Overall, Feedough recognises Panoplia Digital Protection as a leading player in the fraud prevention industry with a strong vision and reliable solutions for individuals and businesses.
A startup consultant, digital marketer, traveller, and philomath. Aashish has worked with over 20 startups and successfully helped them ideate, raise money, and succeed. When not working, he can be found hiking, camping, and stargazing.