Feedzai Launches App on Shopify and Bigcommerce Platforms
San Mateo, Calif. – August 5, 2014 – Feedzai, a data science company that uses real- time, machine-based learning to analyze big data to prevent fraud, today announced that it has developed ecommerce apps for the Shopify and Bigcommerce platforms. The only fraud prevention solution available for true omnichannel commerce, Feedzai’s fraud prevention software is now available on two leading ecommerce platforms in order to help online retailers identify potentially fraudulent transactions.
The Feedzai apps on Shopify and Bigcommerce provide online retailers with real- time information to determine the legitimacy of an order. Users of the app see transactions flagged for suspected fraud. Users can dive deeper to see a list of reasons to block or allow the transaction, allowing the retailer to decide which transactions to accept or decline. Retailers have access to the same bank-grade risk engine used by payment networks and financial institutions.
“Fraud is crossing channels where data breached from stores is then used to exploit ecommerce channels and vice versa,” said Nuno Sebastiao, chief executive officer from Feedzai. “We see that 68% of cross-channel fraud starts online before migrating instore, so want to give all ecommerce retailers access to the tools necessary to help them protect their business. The growth of ecommerce fraud is disrupting the status quo for everyone, on or offline.”
The new Feedzai apps feature the following:
- Behavioral analysis, IP geo-location, device ID recognition, disposable emails, among other criteria, to determine the risk associated with each sales order
- Simple user interface scores each order in real-time
- List of human-friendly reasons to block or allow a transaction, helping retailers to decide to accept or reject an order
- Street level maps that shows the location of the IP address from which the transaction was created, which is cross-checked with the shipping address
- Email reports that detail the transaction summary for a set time period (day, week, etc.)
- Ease of installation; retailers are up and running just by installing the Feedzai app
Feedzai Fraud Prevention That Learns™ technology fuses big data and machine learning to allow analysts to predict and prevent electronic payment loss in real time based on behavioral analysis and understanding of the way consumers behave when they make purchases, online, in-store or from mobile devices. The software uses big data, including mobile and social data streams, to create deep learning profiles for each customer, merchant, location or POS device, product, with up to a three-year history of data behind it. This data helps acquirers, issuers and retailers mitigate risk, guard every transaction and preserve the customer experience.
Feedzai started in Europe, and is also available in North and South America, Europe, and Africa. The company has been working with a number of customers, including Coca-Cola, Logica, Vodafone, Ericsson, Horizon Wind Energy, Servebase Credit Card Solutions and Yoco. The company is backed by SAP Ventures, big data investment firm Data Collective, and other international investors for a total of $4.3 million.
To learn more about Feedzai, visit www.feedzai.com
About Feedzai:
Feedzai is the world’s first RiskOps platform, protecting people and payments with a comprehensive suite of AI-based solutions designed to stop fraud and financial crime. Feedzai is trusted by leading financial institutions to manage critical risk and compliance processes, safeguarding trillions of dollars of transactions while improving the customer experience and protecting the privacy of everyday users. For more information, visit feedzai.com.
Media Contacts:
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