Key Insights: Developed computer vision and NLP solutions to streamline loan applications, detect fraud, and automate customer support, addressing a global identity fraud problem that cost $52 billion in 2021.

About the Client

Prex is a LATAM-based digital financial platform offering payments, transfers, loans, and personal finance tools to over 1 million clients in Argentina, Perú, and Uruguay. Recently acquired by Banco Itaú, Prex competes in the same space as Nubank and Revolut and is a partner of Mastercard, with a mission to democratize financial services and promote inclusion across the region.

The Challenge

Prex wanted to accelerate the development of its AI capabilities by working alongside an experienced partner, both to deliver impactful projects and to transfer knowledge to its internal engineering team.

The initial focus was on:

• Streamlining the loan application process with frictionless identity verification.

• Building fraud detection systems to prevent identity theft.

• Automating customer support processes to reduce response times and handle repetitive queries more efficiently.

Marvik’s Approach

Our collaboration included knowledge transfer, workshops, and joint AI development. Together, we:

• Built an identity validation system using Optical Character Recognition (OCR) to extract data from applicant IDs and validate it against personal photographs using similarity scoring.

• Developed a fraud detection system using automated face recognition and image processing to confirm user identities.

• Designed an NLP-powered chatbot to automate responses to repetitive customer queries, optimized for diverse use cases, limited training data, and evolving business needs.

The systems were built with Python, Golang, React, AWS, Azure, and Google Cloud.

The Results & Impact

• Reduced friction in the loan application process while maintaining high security standards.

• Enhanced fraud detection capabilities to protect against identity theft, a problem affecting 42 million Americans and costing $52 billion in 2021.

• Automated customer support for repetitive queries, with AI chatbots capable of reducing response times by up to 30%.

Why This Matters

By combining AI-driven security and automation, Prex can deliver faster, safer financial services while scaling operations and protecting customers against fraud.