Feedzai Wins Best Use of AI in Fraud and Financial Crime Prevention
Press Releases • December 11, 2024
Feedzai’s use of AI wins award for innovative solutions to enhance fraud detection at the 2024 Regulation Asia Awards for Excellence
San Mateo, CA and Lisbon, Portugal (December , 2024) — Feedzai’s RiskOps platform is awarded Best Use of AI for Fraud and Financial Crime Prevention for its approach to real-time fraud detection, adaptability, and risk management at the 7th Regulation Asia Awards for Excellence 2024.
The award recognises innovative solutions using artificial intelligence to enhance detection of fraud and financial crime threats while elevating industry standards for regulatory compliance. This category celebrates technology vendors that enable financial institutions to efficiently and effectively tackle financial crime risks through the use of AI-driven monitoring, alerting and risk assessment capabilities.
“Fraud, scams, and money mules are increasingly interconnected threats that require a holistic approach, a point solution covering one signal just isn’t enough,” said Pedro Barata, Chief Product Officer at Feedzai. “By enabling banks to monitor both inbound and outbound payments, we help detect authorized and unauthorized fraud and money mules which disrupt money laundering activities. As an AI-first company, we are deeply committed to keeping commerce and banking safe, and this recognition underscores our dedication to enhancing financial security for our customers.”
The judging panel recognized the Feedzai platform in this highly competitive category for its outstanding capabilities to detect fraud risks in real-time. The platform leverages advanced machine learning to continuously improve detection accuracy, reduce false positives, and optimize operational efficiency across digital banking, payments, and ATMs.
“This award highlights the pivotal role of AI in redefining fraud prevention and compliance in today’s financial landscape,” said Bradley Maclean, Co-founder of Regulation Asia and Chair of the Awards Committee. “Feedzai’s innovative solution empowers institutions to proactively address emerging threats, supporting a more secure and resilient future for the industry.”
The judging panel acknowledged the solution’s support for diverse regulatory needs, customizable interface and user-friendly design, which helps enhance the efficiency of fraud analysts. “Feedzai delivers comprehensive fraud protection for clients worldwide, setting itself apart as a leader in AI-driven fraud prevention,” said one judge on the Regulation Asia awards panel. “The real-time risk assessment capabilities establish a new benchmark in fraud prevention.”
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
About the Regulation Asia Awards for Excellence 2024:The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that help ensure the highest regulatory compliance standards are upheld in the financial industry. Each year, senior industry practitioners serve on a judging panel to help assess and score each submission to determine the winning entrants. For a full list of the award 2024 winners, visit www.regulationasia.com/awards.
About Regulation Asia:Regulation Asia is the leading source of actionable regulatory intelligence for Asia Pacific markets. With over 13,000+ subscribers, including regulatory bodies, exchanges, banks, asset managers and service providers, Regulation Asia plays a key role in shaping the regulatory agenda. Visit www.regulationasia.com or connect via LinkedIn or Twitter.
