Credibanco Selects Feedzai to Power Real-Time Fraud Prevention and Accelerate Digital Transformation Across Colombia
Press Releases • January 9, 2025
LISBON, PORTUGAL and SAN MATEO, CA (January 09, 2024)–Feedzai, the global leader in AI-driven fraud prevention solutions, today announced its partnership with Credibanco, Colombia’s leading payment processing company with over 50 years of expertise. This partnership will enable Credibanco to leverage cutting-edge artificial intelligence and machine learning models to detect and prevent fraud in real time, ensuring seamless, secure transactions across multiple channels—both card-present and digital—while driving financial inclusion throughout Colombia’s rapidly evolving financial landscape.
The partnership comes at a pivotal time as Credibanco prepares for the rollout of BRE-B, Colombia’s upcoming instant payment system, and looks to enhance capabilities in the face of evolving regulatory requirements and market demands. By deploying Feedzai’s platform, Credibanco will transform its existing rule-based fraud prevention framework into a dynamic, model-driven solution. This transformation provides continuous risk intelligence for issuers, acquirers, merchants, and networks, unlocking the full potential of Credibanco’s payment ecosystem data.
Empowering a Holistic Fraud Detection Framework
With Feedzai’s advanced AI-driven technology, Credibanco can now seamlessly integrate new product offerings—including real-time payments, account-to-account transfers, and Open Finance (inspired by PSD2 and PSD3-like initiatives)—faster and more securely. The platform also introduces merchant monitoring capabilities that allow for deeper merchant profiling, empowering Credibanco to provide more personalized, data-driven services and strengthen its competitive market position.
“Our mission has always been to promote electronic payments and financial inclusion in Colombia for the well-being of businesses and individuals,” said Ricardo Zambrano, President of Credibanco. “The partnership with Feedzai allows us to strengthen our fraud prevention capabilities with the most advanced solution on the market. In this way, we comply with new regulatory requirements and also empower our clients with security and innovative risk management services, solidifying our position as a leader in Colombia’s financial sector.”
By implementing Feedzai’s platform, Credibanco will drive a significant evolution in its fraud prevention models, leveraging Feedzai’s advanced technological capabilities. This transformation will provide continuous risk intelligence for issuers, acquirers, merchants, and networks, maximizing the potential of Credibanco’s payment ecosystem data.
Feedzai’s Commitment to Enhancing Financial Security
“Our partnership with Credibanco showcases how advanced AI and ML-based technologies can revolutionize financial institutions’ approaches to fraud prevention,” said Nuno Pires, Global Head of Sales at Feedzai. “Feedzai’s platform enables Credibanco to set a new standard in trust, speed, and security—driving the kind of digital transformation that will shape the future of payments not just in Colombia, but across Latin America.”
Feedzai’s presence in Colombia, supported by dedicated partnerships, ensures a strong, localized commitment to combating financial crime. These strategic partnerships are vital to supporting Credibanco’s growth and expanding its range of services, ultimately fostering innovation and financial inclusion across the country.
Regulatory Compliance and Future-Ready Solutions
Understanding that instant payment systems are transforming the financial landscape, Feedzai’s platform addresses the critical need for robust, scalable, and adaptable fraud prevention. By meeting evolving market demands, offering value-added services, and ensuring compliance with new regulations, Credibanco is well-positioned for the future.
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.
About Credibanco:Credibanco is a Colombian company supervised by the Financial Superintendence with over 52 years of experience. It is a pioneer and leader in the electronic payments segment in the country. With a technological and innovative approach, it offers fast and secure solutions through multiple channels, both online and offline, supporting the digital transformation of Colombian businesses and promoting financial formalization and inclusion.
