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As financial institutions and government entities handle escalating fraud schemes, an Agentic AI solution promises to change how the industry works. Tikhnadhi Kamlakshya, a seasoned AI solutions architect with over two decades of experience, has secured a patent from the UK Intellectual Property Office for his groundbreaking fraud detection system. This customizable and adaptable framework is designed to protect underwriters, auditors, and stakeholders from crippling financial losses, potentially saving billions across the public and private sectors.
Financial fraud cost U.S. institutions a staggering $9.6 billion in 2023. Traditional, rule-based systems simply cannot compete with the sophistication of modern cybercriminals. Kamlakshya’s patented technology offers a strategic advantage, equipping financial watchdogs with the means to preempt and neutralize these threats.
Why the patent is critical
Kamlakshya’s patent is a leap forward in AI-driven fraud detection. Unlike rigid, static systems, this technology combines advanced Optical Character Recognition (OCR) with advanced deep learning models. This allows the system to analyze complex datasets dynamically, identify subtle anomalies, and adapt to evolving fraud tactics in real time.
The system’s adaptive and customizable core design offers unseen flexibility, enabling it to be tailored to the precise needs of diverse industries and organizations. This, coupled with enhanced accuracy by significantly reducing false positives and negatives, ensures the seamless processing of legitimate transactions while bolstering the precise detection of fraudulent activity. Furthermore, the system’s inherent scalability, engineered to accommodate substantial data volumes, makes it ideally suited for deployment within large-scale institutions such as major financial entities and government agencies, thereby maximizing its positive impact on operational efficiency and security.
“This patent isn’t just about owning an idea; it’s about providing a customizable blueprint for a more secure financial future,” says Kamlakshya. “We’ve built a system that can be adapted to the unique challenges of any organization, making it a powerful weapon in the fight against fraud.”
Tikhnadhi Kamlakshya has been honored with a 2025 Global Recognition Award through his work. As the head of Cloud Mix — Innovation & Modernization at Citizens Bank, he is making AI-powered changes that speed up lending, make fraud detection smarter, and improve risk management.
Transforming underwriting and auditing
By streamlining application processing, the system demonstrably increases underwriter productivity, enabling a substantially greater volume of transactions to be handled with enhanced accuracy — real-world implementations have yielded a fourfold increase in throughput in certain use cases. Furthermore, the technology delivers superior fraud detection capabilities, mitigating financial losses and minimizing compliance risks. Finally, by minimizing errors and biases, the system promotes more accurate assessments, reducing overall operational costs and fostering a more efficient and secure environment.
The U.S. mortgage market, worth $12.1 trillion in 2023, is expected to grow steadily through 2030, fueled by digital upgrades. AI-powered tools are already making a difference, cutting loan approval times by 40% and pushing banks toward automation.
“We are equipping those on the front lines of fraud prevention with a laser-like focus and the ability to see patterns and anomalies that were previously invisible,” emphasizes Kamlakshya.
A new era: Impact across the board
Imagine an auditor sifting through a mountain of loan applications, each a potential landmine of fraudulent activity. Traditionally, this process is time-consuming, prone to human error, and often relies on outdated rule-based systems. Kamlakshya’s AI automatically analyzes each document, flagging real-time suspicious patterns and anomalies. It reduces errors, catches inconsistencies, and allows auditors to focus on more complex and nuanced cases. This frees up valuable time and resources, enabling them to handle more cases and reduce their organization’s risk — the result is a safer, more secure financial ecosystem.
As banks go digital, fraud is becoming an even bigger problem. In 2023, financial fraud led to $9.6 billion in losses across the U.S., with criminals using sophisticated tricks to bypass outdated security measures. Old-school fraud detection relies on human monitoring and fixed rules and cannot keep up with today’s cybercriminals.
“Cybercriminals are getting smarter, but AI is staying one code ahead,” Kamlakshya says. “With predictive analytics and instant tracking, we can stop fraud before it even starts.”
AI’s role in modernization
Artificial intelligence is set to keep transforming banking in the coming years. By 2030, experts predict that 80% of financial services will be powered by AI, improving everything from automated investing to fraud detection.
The pervasive impact of technology across various sectors, including finance, is undeniable in AI-driven solutions. Kamlakshya’s Agentic AI system, designed to improve document scrutiny in underwriting and auditing, demonstrates a commitment to addressing critical societal challenges, specifically in fraud prevention. This is particularly relevant given the nuanced challenges of fraud detection within sensitive industries such as mortgage, healthcare, and the public sector.
Within the healthcare sector, the framework will fortify defenses against insurance fraud and abuse, guarantee precise medical billing practices, and secure the privacy of sensitive patient data, contributing to a more trustworthy and efficient healthcare ecosystem. In the insurance industry, it will be vital in detecting fraudulent claims and minimizing financial losses for both insurers and policyholders. Finally, its application within the mortgage sector will streamline the loan origination process and mitigate the risk of mortgage fraud, thereby contributing to a more transparent and secure housing market.
Benefits for shareholders and stakeholders
Investing in AI-driven fraud prevention benefits shareholders and stakeholders, strengthening an organization’s health and stability. These systems protect shareholder value, safeguard investments, and ensure long-term profitability by mitigating financial losses from fraudulent activities.
Moreover, implementing such advanced technologies demonstrates a proactive commitment to security and integrity, building trust and confidence among customers, partners, and the broader public and bolstering the organization’s reputation. AI-driven fraud prevention also improves compliance posture, enabling organizations to effectively meet regulatory requirements and avoid incurring costly fines and penalties.
As a senior member of the Institute of Electrical and Electronics Engineers (IEEE), Kamlakshya has contributed significantly to the academic community with numerous publications in peer-reviewed journals. Additional information regarding his work can be found on ResearchGate.
“Fraud is an evolving threat, and we must constantly adapt to stay one step ahead. Our Agentic AI framework is designed to do just that.” Kamlakshya closes.
