Listen to Introducing the World’s First RiskOps Platform (7 min):

Change is inevitable. But the exponential rate of change we’ve recently experienced is extraordinary. Considering this, why are we approaching risk management in a siloed, old-fashioned, old-tech way? No, this is not another article hailing machine learning as new technology. This is something different entirely. Are you ready for the future? Because it starts right now.

The old way of conducting risk management isn’t good enough for the new risks we face. It also doesn’t capitalize on the capabilities today’s technology provides to us. Why is it that connected ecosystems have revolutionized other enterprise functions, yet ours remains disjointed and disparate? Sales has Salesforce, marketing has Marketo or Hubspot, and developers have Github/GitLab, but what does the risk management team have? They’re left to stitch together a variety of tools, apps, and protocols which leaves them managing software instead of risk. And it’s not going well. Annual global money laundering is estimated at $800 billion – $2 trillion in current US dollars and Feedzai reported a 159% increase in banking fraud attacks. But that changes today.

I’m thrilled to unveil Feedzai as the world’s first RiskOps platform. RiskOps isn’t just a product. It’s a unified approach that encompasses fraud, money laundering, compliance, and risk policies. 

Feedzai’s RiskOps platform is built on three key pillars:

  1. Comprehensive Architecture. Every phase of the risk journey – launch, prevent, detect, remediate, comply, and adapt – is managed in one platform. And the platform is architected for customization so your teams can configure it to meet your goals and risk appetite, align to your values, and exceed your customers’ expectations.
  2. Human-Centered AI. Our approach to AI is to put customers at the center of it. We don’t think in terms of cohorts, we think of each individual. With fairness and bias considerations coupled with automatic model monitoring, we create hyper-accurate risk profiles for a frictionless customer experience every step of the way.
  3. Collaborative Analytics Suite. This is where the risk management magic happens. We break down silos between fraud, AML, compliance, and risk teams by putting all the tools and analytics they need in one, collaborative space to create a centralized view of risk. That means all the data available at all times. We call it the digital gold that shapes the future of your organization. We’re sequencing the DNA of risk patterns and democratizing machine learning. We won’t say that our cloud-based RiskOps Studio transforms your analysts into data scientists, but your analysts might.

This suite is comprised of several key components:

  • Trust Your Customers with Financial Intelligence Network (FIN) 

FIN is a vast database containing over 1 trillion data points, sessions, and profiles of both good and bad actors. Every user session is kept anonymous, ensuring that people are always treated as people, not as data points. 

  • Accurately Assess Risk with Pulse Risk Engine

From day one you can connect data from various payment channels (even ones that haven’t been invented yet!), payment types, devices, networks, behavior, accounts, geolocations, and more. You can also use external machine-learning tools or your own rules and models, and put them into production with no engineering work. With our integrated platform, your models go from sandbox to production with a single click. When we said the RiskOps Platform transformed risk management, we meant it.

  • Remediate Risk with Case Manager

Automatically contextualizes information to speed up alert disposition, breaks down silos between risk management teams, and creates a centralized view of risk so analysts transform data points into actionable insights that prevent and detect future attacks. 

  • Uncover Hidden Risk with Genome

Sequence the DNA of risk and financial crime patterns to visualize relationships between criminal networks that would otherwise be undetectable.  

  • Manage Risk Better with Insights/Reporting

Assess performances of rules and models to optimize effectiveness. Monitor key metrics across your entire risk portfolio including fraud and money laundering.

But it’s not just Chief Risk Officers (CROs) and their teams of data scientists and analysts who benefit from the Feedzai RiskOps platform. Consumers do too. Customers can open more accounts and have personalized experiences because you know them and they know you. It’s a relationship built on trust and the result is growth.

Today marks the day that risk teams no longer have to take an a la carte approach to fraud, money laundering, financial crime, compliance, and risk management. They can now enjoy what so many other teams have come to take for granted: a connected, powerful platform that more than improves every part of their job, it transforms it. The end result? You open more accounts. Approval rates soar. False declines plummet. And most importantly, you win your customers’ trust and loyalty like never before.

 Feedzai — World’s First RiskOps Platform!