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Informist, Monday, Sept. 29, 2025

 

NEW DELHI – Nearly 60% of the 600 decision-makers at financial companies surveyed for HCL Technologies Ltd. said current fraud detection tools built using artificial intelligence are ineffective, with privacy, integration, and lack of transparency being the primary areas of concern. However, nearly 82% of the executives also felt AI is the only viable way to balance a frictionless customer payment experience with fraud prevention, according to The Future of Payments Report 2025. "In an industry where trust is currency, weak confidence in fraud prevention is a red flag," they said.

 

The survey was conducted by HCLTech in collaboration with Wakefield Research among decision-makers at companies that deal with cards, payments, and payment processing. All the respondents were at the level of vice-president or higher. Nearly 80% of the respondents were senior decision-makers in the US, the UK, Ireland, Denmark, Finland, France, Germany, the Netherlands, Norway, and Sweden.

 

Around 47% of the companies polled lacked policies or guidelines on the use of AI at the organisation level. "Executives see AI as both the enabler of leap-frogging efficiency-charged operations and also an unwieldy source of new vulnerabilities," according to the report. "Without a stronger governance foundation, the payments industry risks undermining the very security it seeks to provide."

 

The study found that "nearly all payment executives (91%) express concern about AI's pitfalls, and 99% worry about deploying AI agents". Around 17% of the companies surveyed operate autonomously and more than half are expected to operate autonomously within two years. However, only 20% have the infrastructure to sustain such a transformation. 

 

For the June quarter, HCL Technologies had reported a consolidated net profit of INR 38.43 billion on a consolidated revenue of INR 309.49 billion. Monday, the company's shares closed 0.6% lower at INR 1,387.40 on the National Stock Exchange.  End

 

Reported by Anand JC

Edited by Rajeev Pai

 

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