San Mateo, United States – July 6, 2022 – Feedzai, the world’s first RiskOps platform for financial risk management, has been ranked among the top vendors in anti-money laundering (AML) in a Forrester report released today, “The Forrester WaveTM: Anti-Money-Laundering Solutions, Q3 2022”.

“Feedzai leverages machine learning and automation to overcome the difficulty many institutions have with legacy AML programs which operate with siloed, disparate systems creating a pixelated view of risk,” said Pedro Barata, CPO at Feedzai. “We believe our continued investment in R&D alongside our unified, RiskOps-based approach across AML is why we are consistently endorsed by customers and are a strong performer in the Forrester Wave report”. 

In the last year, Feedzai’s AML suite has helped customers monitor over 200 territories with over 90% precision for high-priority alerts.

Findings in The Forrester WaveTM Anti-Money-Laundering Solutions report
Feedzai received the highest possible scores in the following criteria:

• Internationalization, currencies and reporting 
• Execution roadmap
• Enhancements: Watchlist management
• Supporting services: Developers 
• Supporting services: Professional services 

The Wave report cited “disproportionately strong development and support staffing” and also notes, “In its current AML offering, the vendor’s rule threshold, processing, and recommendation capabilities are strong.” 

 The analysis goes on to state, “Feedzai is a good fit for organizations looking to automate and streamline the AML model development using workflow templates and third-party risk scoring models.”

 The Forrester Wave Anti-Money-Laundering Solutions, Q3 2022, reviewed 15 vendors in its assessment in a rigorous evaluation process that includes a detailed questionnaire, demos/briefings, and customer reference surveys/interviews. The resulting report is a trusted, unbiased analyst resource for organizations looking to invest in an AML solution.

Feedzai AML Suite manages AML risk across all stages of the customer lifecycle, creating a cohesive picture of risk across siloed internal and external systems. The suite includes four AML solutions in a single, unified AML compliance system:

• Know Your Customer/Customer Due Diligence with continuous risk profiling, 
• Watchlist Management Customer Screening with automated watchlist monitoring
• Watchlist Management Payment Screening with fuzzy matching to reduce false positives, and 
• AML Transaction Monitoring that uses machine learning for precise risk scoring and prioritization.
  

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:
Feedzai [email protected]

London, UK, and Amsterdam, Netherlands – 7th June 2022 – Trust Payments, the disruptive leader in fintech specialising in frictionless payments and value-added services, announced today at Money20/20 Europe a multi-year partnership with Feedzai, the world’s first RiskOps platform for financial risk management. Using Feedzai, a key market leader in safeguarding global commerce, Trust Payments’ customers will benefit from an advanced cloud-based risk management platform, powered by machine learning and artificial intelligence.

Feedzai’s RiskOps meets key industry challenges to seamlessly solve for identity, real-time data, and collaboration across the customer lifecycle whilst increasing productivity and enabling financial services companies to deliver better outcomes for their customers.

Daniel Holden, Group CEO of Trust Payments, said: “We’re delighted to be partnering with Feedzai to ensure our vision for Converged Commerce™ can be backed by their robust risk management offering covering device authentication, malware defense, behavioral biometrics, and a full suite of integrated fraud and anti-money laundering solutions. This partnership will reinforce our commitment to a gold-standard risk framework to help deliver trusted commerce solutions to our customers around the world.”

“We are delighted that Trust Payments has selected Feedzai as a trusted partner and is implementing our unique RiskOps solution to ensure that their teams have a single platform to handle everything fraud and financial crime-related and to ensure financial security for themselves and their customers,” added Nuno Sebastião, CEO at Feedzai.

The world’s largest banks, processors, and retailers already trust Feedzai to protect trillions of dollars and manage risk while improving the customer experience for everyday users, without compromising privacy. Feedzai is a Series D company and has raised $282M to date with a current valuation of $1.5B. Its technology protects 900 million people in 190 countries.

About Trust Payments:
Trust Payments is a disruptive leader in fintech, specialising in frictionless payments and value-added services for online and offline merchants. We provide on-demand Payments and Banking-as-a-Service services to help businesses grow and scale online, in-store, and on mobile.
Trust Payments combines these omnichannel services with powerful tools, such as retail operations technology, loyalty management and instant eCommerce. We are constantly engaging new innovative payment methods in crypto and bank transfers to drive Converged Commerce™.  Since 2020, Trust Payments has acquired multiple businesses into its Group including WonderLane (retail operations and point of sale leaders); Stor (full e-commerce platform designed for small merchants); and Mobilize (specialists in mobile-based engagement and loyalty tracking).
Focusing on any commerce providers in the UK, EU and US, Trust Payments drives value for our clients through personalised services, secure and frictionless payments, and innovative products. Small and medium sized enterprises particularly benefit from our 24 years’ expertise.
Trust Payments has a global footprint, with over 500 people across 11 offices supporting the most demanding business sectors ­– from retail, travel and hospitality to crypto, gaming, and financial services. We have an acquiring network of over 50 global banks and hundreds of alternative payment methods.
We hold Visa and Mastercard Principal Memberships in the EU for cross-border business, are licenced by both the Malta Financial Services Authority and the UK Financial Conduct Authority and holds licences in 6 US States to carry out regulated payments in gaming.
Find out more at www.trustpayments.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:
Feedzai [email protected]

• Moderated by Feedzai’s CEO, Nuno Sebastião, it will address how managing risks in remarkable situations can translate to business

London, United Kingdom  – June 1, 2022 – Feedzai, the world’s first RiskOps platform for financial risk management, announced it will host two unique panel discussions at this year’s Money 20/20 Europe event in Amsterdam. The main stage panel on the 7th of June entitled ‘Faster, Higher and Into Orbit’ will bring together some of the world’s most remarkable people – including astronaut Tim Peake, racing driver Susie Wolff and free climber Alain Robert – to discuss the risks they’ve taken in their careers and how lessons they’ve learned can be applied in the context of financial management. Hosting the panel will be Feedzai’s CEO, Nuno Sebastião.

The discussion will take place at 12:05 pm and dissect how the panelists manage risk in their own lives and became pioneers in their fields while drawing important lessons to translate these into business terms. Whether driving a Formula One car, free climbing the world’s highest buildings, or spending time in the International Space station, these individuals have dealt with risk in a calculated way, much like how Feedzai’s groundbreaking technologies do for Financial Institutions, acquirers, and fintechs around the world. The speakers will shine a light on valuable takeaways that organisations can use to help them manage risk as well as create a solid plan to discover and overcome business risks.

“Feedzai is proud and excited to bring together a group of incredible and influential people to discuss such an important topic,” said Nuno Sebastião, CEO at Feedzai. “We believe it is crucial to facilitate discussion on how to deal with risk on a personal and a business level, particularly in a way that is universally understood. By giving people like Tim Peake, Susie Wolff and Alain Robert the opportunity to share their experiences, we hope to create parallels to the business world and demonstrate the various ways in which you can deal with risk. In doing so, we aim to highlight the importance of both being prepared and having a plan in place to prevent incidents that can cause immense damage to an organisation.”

In addition, Feedzai will also be hosting a talk on the Exchange Stage on Wednesday the 8th of June at 14:40 PM, looking to highlight the ‘backstage players’ protecting the payments ecosystem. Hosted by Richard Harris, EVP Head of Strategy and Advisory at Feedzai, Graham Barrow from Dark Money Files, joined by Silvia Mensdorff-Pouilly, SVP & Head of Banking and Payments, Europe of FIS, and  Jethro Cornelissen, Business Line Anti-Fraud Officer C&G ING at ING, the panel will underline the reality of protecting the Fintech sector from threat actors. The trio will tackle topics like international drug money and corruption, weaknesses in the payment ecosystem, and various technologies that can prove helpful.

Feedzai will be located in Hall A, stand #60 at the Money20/20 Europe event taking place at the Rai Amsterdam 7th-9th June 2022.

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:
Feedzai [email protected]

• Global study reveals online fraud attacks grew at a faster pace than legitimate online transactions;
• 794% increase in fraud on digital entertainment transactions;
• Account Takeover (ATO) tops the list of top fraud scams of 2021.

San Mateo, Calif. & Lisbon, Portugal – Apr. 5, 2022 – Feedzai, the world’s first RiskOps platform for financial risk management, has released its quarterly Financial Crime Report, The RiskOps Age, based on an analysis of over 18 billion global banking transactions throughout 2021. The report identifies trends in consumer spending and fraud attacks and compares transactional intelligence from 2021 with the previous three years to provide insights from the pre-pandemic era vs. the first and second years of the pandemic. One of the main conclusions is that while online transactions grew 65%, online fraud attack rates grew by 233%.

“The shift from in-person transactions to online transactions, along with the plethora of devices and accounts each person has, creates vast amounts of data points. From a fraudster’s point of view, this is the best case scenario. It’s easier for them to hide in all that noise,” said Jaime Ferreira, VP of Global Data Science at Feedzai. “But it also creates opportunities for banks to create more effective and personal products and services. It’s for both of the reasons that we’ve called this report The RiskOps Age. Now is the time to connect teams and data to prevent fraud and provide elevated customer experiences.”

The data shows that consumers shifted to digital entertainment platforms during the pandemic, and so did fraudsters. Criminals often like to hide in plain sight, and the sheer number of transactions for digital entertainment combined with the low dollar amount per transaction provides fraudsters with an ideal environment to test stolen cards along with other scams. Feedzai’s Financial Crime Report saw a 794% increase in fraud attacks on digital entertainment transactions in 2021 vs. 2019.

“Living the digital lifestyle adds a world of convenience, but also provides a low-risk, high-reward environment for fraudsters,” adds Ferreira. “It’s the perfect place for fraudsters to hide – in a massive number of low-dollar amount transactions. The more transactions, the more opportunities for them to test stolen cards or other scams. Consumers and banks need to watch out for those small fraud transactions before they add up to big bills.”

Top Fraud Scams

With fraud on the rise, the report also identified the top five fraud scams, with account takeover (ATO) and social engineering attacks ranking as fraudsters’ current favorite schemes. The top scam on the list has risen from fourth to first place since last year. ATO is a form of identity theft where fraudsters change account information, including passwords, and “take over” the account.

Top 5 fraud attacks:

1. Account Takeover
2. Social Engineering Scams
3. Purchase Scams
4. Impersonation Scams
5. Smishing Scams

Fraud in other parts of the world

The United Kingdom of Fraud:

In the U.K., banking fraud attacks are 50% more common when British consumers banked via desktops and laptops, telephone, or in-person combined vs. through a mobile banking application.

For mobile devices, fraudsters attempted 30% higher pound (£) amounts of fraud on Android devices, but fraud rates were 67% higher on iOS devices.

The United States of Fraud:

In our previous Financial Crime Report, we focused on the trend away from cash. Now we see that cash didn’t bounce back even when many pandemic-related restrictions were lifted. In fact, we saw a steeper decline in U.S. cash withdrawals comparing 2021 to 2020 vs. 2019 to 2020. Overall, U.S. cash withdrawals decreased 75% from pre-pandemic levels to today.

And for those who are thinking about a vacation in the United States, the report further ranked the top six U.S. tourist cities by fraud rate with Miami, Los Angeles, and San Francisco taking first, second, and third spots respectively. After a gradual climb from the number three ranking in 2019 and number two in 2020, Miami overtakes San Francisco as the tourist city with the highest fraud rate, up 511 percent. San Francisco drops to number three with a 42 percent decrease in fraud rate.

In fourth place is New York City with a 160% increase over last year, followed by Orlando (+15%) and Las Vegas (+334%).

How Consumers Can Prevent Social Engineering Attacks

1. Remember, the click is a trick: Don’t open or click on suspicious links via email or text. Fraudsters can’t trick you if you don’t click on their links.
2. Update devices: Install and regularly update anti-malware software. When your computer or phone prompts you to install updates, do it.
3. Protect your privacy: Don’t provide personal information about yourself or your employer unless you are 100 percent sure the person you’re interacting with should have access to that information.
4. Use multi-factor authentication: Do not reveal personal or financial information in an email, and do not respond to email solicitations for this information. This includes clicking on links sent via email.
5. Don’t believe the hype: If an offer, prize, or opportunity is too good to be true, it isn’t true. Don’t fall for tempting out-of-this-world offers.

Access Feedzai’s Quarterly Financial Crime Report to learn more about the latest fraud and consumer trends. Further details on the report can be found on the Feedzai blog: Q2 2022 FinCrime Report: The RiskOps Age | Feedzai.

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:
Feedzai [email protected]

San Mateo, Calif. & London, U.K – December 20 — Feedzai, the world’s first RiskOps platform, has been named in the top categories of two analyst firms: Technology Leader in Quadrant’s Enterprise Fraud Management survey and Best-in-Class For Fraud and Anti Money Laundering (AML) in Aite’s Matrix in a testament to its market presence, vision and customer value proposition.

The Quadrant Knowledge Solutions SPARK Matrix™ analysis of the global Enterprise Fraud Management (EFM) Market highlights how Feedzai offers premium fraud & risk management solutions through its flagship Transaction Fraud for Banking (TFB) solution. 

Feedzai’s TFB leverages machine learning and helps banks and financial institutions manage financial crime and digital trust across the entire customer lifecycle with innovative and differentiated capabilities. The solution is based on the world’s first RiskOps platform that encompasses:

• A single, end-to-end solution to manage multiple forms of risk and compliance with a fully extensible architecture that facilitates instant promotion of models from sandbox to production;
• Human-Centered AI with individualized risk assessment – not cohort-based;
• A Collaborative Analytics Suite to further break down the silos between fraud, AML, compliance and risk teams by putting all the data, tools and analytics in one, collaborative space.

According to Pradnya Gugale, Analyst at Quadrant Knowledge Solutions, “Powered by its comprehensive advanced ML-driven EFM capabilities, strong customer value proposition and continued focus on innovation Feedzai’s Transaction Fraud for Banking is a single solution for fraud management and risk scoring. Feedzai has received strong ratings across the parameters of technology excellence and customer impact and hence is recognised in the Leader category.”

Aite Novarica Group, an analyst firm focused on banking and payments, once again places Feedzai as a Best-in-Class vendor for helping banks, merchants and payment processors fight Fraud and AML. 

The 2021 Fraud and AML Vendor Report highlights the company’s omnichannel approach that allows clients to “construct single, unified views of customer risk that facilitate elevated monitoring, accelerated detection, and optimized investigation and decisioning. Illustrative in-market use cases for FI’s include AML transaction monitoring and screening as well as transaction monitoring for banking, including payment card and card-not-present fraud, transfer fraud, application fraud, and wholesale transactional fraud.”

Charles Subrt, Analyst at Aite Novarica Group, said, “Feedzai offers a unique omnichannel financial crime platform that analyzes large data sets in milliseconds, facilitates holistic customer risk profiling and real-time decision making, and elevates fraud and money laundering detection and investigation. Transparent, explainable, and accountable by design, the Feedzai platform supports robust model risk management practices as well as responsible artificial intelligence.”

The same report also highlights the best in class experience from Feedzai’s customers and future proof vision. Clients indicated that “the solution’s accuracy, flexibility, data leverage and ease of adaptation, as well as Feedzai’s strong data science expertise, responsive service and support, and forward-thinking.”

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:
Feedzai [email protected]

• 125% year-over-year ARR growth in Q3 with multiple new customers in North America, Europe, Latin America, and Asia.
• New Chief Revenue Officer and General Counsel join the company
• Christian Smith, CRO at Splunk joins Feedzai as new independent board member

Lisbon, Portugal, and San Mateo. Calif. December 14 — Feedzai, the leading RiskOps platform, today announced that it has experienced a 125% year-over-year growth in new Annual Recurring Revenue (ARR) in Q3. Large multi-year enterprise deals closed in the US, EMEA, APAC, and LATAM with 100% year-to-date growth in new logos.

Feedzai recently announced the evolution of financial risk management, with the introduction of the world’s first RiskOps Platform in a single, comprehensive cloud-based platform to manage multiple forms of risk and compliance. Today, more than 20 percent of the world’s money flows through Feedzai while the company secures the bank accounts of 1 in every five people. In August 2021, Feedzai acquired Revelock and became the world’s largest Financial Intelligence Network (FIN), a vault of more than a trillion data points, sessions, and profiles of both good and bad actors.

“Feedzai keeps growing at a steady rate and we are winning the most important deals in this space. The partnerships we’re forging mean that we will be redefining the way companies operationalize risk in the years to come, with a long-lasting positive impact for hundreds of millions of people every day,” said Nuno Sebastiao, Co-founder, and CEO of Feedzai. “It was also time to step back and reevaluate not just the tools we use to fight fraud or money laundering, but the overall approach we take to developing risk management solutions.  RiskOps is a unified theory that allows teams to move from reactionary, one-off point solutions to a comprehensive platform that removes the silos and adds real substance and meaning to their work.”

As part of the growth, Feedzai has achieved several important milestones, including:

Business Performance and Geographic Expansion – Feedzai reports a 125% year-over-year growth in new Annual Recurring Revenue (ARR) in Q3 and a 100% year-to-date growth in new logos. Additionally, the company has expanded its global footprint with new multi-year deals in Malaysia, Germany, Spain, the US, and many other markets. Feedzai is now also protecting one of the biggest money transfer brands in the world, a major domestic debit and credit card brand in Brazil, one of the world’s largest Islamic banks, a leading P2P provider in Spain and Europe, among many others.

Leadership Strengthening – The company keeps attracting top talent to its C-suite and a new independent board member.

• • Christian Smith, Independent Board Member – joins Feedzai’s board of directors. With over 25 years of experience, Christian is currently the CRO of Splunk and has focused on executive sales and marketing leadership specializing in Cloud and Hybrid Go To Markets in companies such as Nintex and Oracle.
  • Elliott Limb, Chief Revenue Officer – a seasoned banking executive twice named as one of the Top 50 Most Influential Leaders in fintech globally. Former Chief Customer Officer at Mambu with leadership roles at Citibank, Finastra, and Barclays.
  • Patricia Marques Ferreira, General Counsel – with over 20 years of experience, Patricia was the Head of Legal at Outsystems and worked at PLMJ, one of the most innovative international law firms according to the Financial Times.
  • Pedro Barata, Chief Product Officer – After two years as SVP of Product and prior to that having assembled and led the Customer Success department, Pedro was appointed Chief Product Officer, where he leads product development and management to bring the most advanced financial crime-fighting technology to market.

Market category leader through innovation – Feedzai’s RiskOps platform has a fully extensible architecture that allows to instantly go from sandbox to production, human-centered AI with individualized risk assessment embedded across the entire system, and a collaborative analytics suite to further break down the silos between fraud, AML, compliance, and risk teams by putting all the data, tools and analytics in one single space. 

Investment in research has been steadily increasing, with 100% patent submission growth in the last two years, more than 10 top tier scientific peer-reviewed papers since the beginning of the year, and multiple awards, such as 2021 Fast Company World Changing Idea (AI and Data category finalist) and 2021 Fintech Breakthrough Award.

Examples of innovations developed by Feedzai Research include a large-scale point-of-compromise detection algorithm, industry-leading AutoML algorithms, automatic detection of model degradations, automatic tuning of rules, human-understandable machine learning explanations, model fairness mitigation algorithms, alert suppression techniques, biometric identification of trojan attacks, and more.

According to the latest Quarterly Financial Crime Report, which analyzed consumer spending trends from more than 1.5 billion global transactions, consumers’ shift to digital banking has gotten stronger. The data reveals a continuous move to cashless transactions, with a 146% increase in P2P payments, a 44% decrease in cash transactions, and a 109% increase in online transactions, to nearly double the number of card-present or in-person transactions. With this focus on digital payments, financial criminals have also shifted their targets online. 

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:
Feedzai [email protected]

• Single, comprehensive cloud-based platform to manage multiple forms of risk and compliance with a fully extensible architecture that allows to instantly go from sandbox to production
• Human-Centered AI with individualized risk assessment – not cohort-based – embedded across the entire system
• Collaborative Analytics Suite to further break down the silos between fraud, AML, compliance and risk teams by putting all the data, tools and analytics in one, collaborative space

Las Vegas, Nevada – Oct 26, 2021 – Today Feedzai announced, at Money20/20 US, the evolution of financial risk management–RiskOps, with the introduction of the World’s First RiskOps Platform. RiskOps is a new approach to risk management that tackles more than just fincrime. RiskOps helps risk management teams stop fraud and money laundering, but also includes tools to comply with regulations and adhere to other revenue, operational, and compliance risk policies such as PSD2, GDPR, and TILA. Chief Risk Officers and their teams spend less time managing point solutions and more time focusing on the bigger issues–how to leverage best strategic thinking from their data scientists and analysts to keep customers happy and feeling safe while growing revenue. 

Financial crime is rampant and growing amidst the global shift to digital payments. An estimated $2 trillion — 2.5 percent of global GDP — is laundered every year. This is putting increasing pressure on industry Chief Risk Officers and their teams. As criminals have gotten savvier, the industry has responded with point solutions to address the holes they expose. This has resulted in risk management teams spending their valuable time operating apps, managing and updating software, instead of stopping FinCrime and mitigating risk. This FinCrime Software overload has bogged down risk management and forced CROs to search for more comprehensive solutions. 

“The stakes are getting higher for financial institutions. CROs now have to protect more than just digital payments, but also new kinds of currencies, real money, quasi-money, crypto-currency, game tokens, and more,” said Nuno Sebastiao, CEO of Feedzai. “Money is evolving, and organizations have to evolve risk management as well to stay relevant, and to stay in business.”

The Feedzai RiskOps platform includes the following key components:

1. Comprehensive Architecture. Every phase of the risk journey – launch, prevent, detect, remediate, comply, and adapt – is managed in one platform. The cloud-based platform is architected both for smaller teams to use it from day 1 and larger organizations that want access to a fully customizable suite to meet their goals, align to the values, and exceed customers’ expectations. Its fully extensible architecture allows it to instantly go from sandbox to production with internal models, and 3rd-party solutions.
2. Human-Centered AI. The company’s approach to AI is to put people at the center of it. With fairness and bias considerations coupled with automatic model monitoring, Feedzai creates hyper-accurate risk profiles for a frictionless customer experience every step of the way. It ensures good people aren’t the victims of bias or other false positives that degrade the trust in the system. And instead of force-fitting generic models, the AI is custom-built specifically for fintech, with schemas and variables that track the flow of money baked in from the start.
3. Collaborative Analytics Suite. Breaking down the silos between fraud, AML, compliance, and risk teams by putting all the data, 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 — a single place for the entire team to collaborate and access information they need, so nothing is siloed. Feedzai is sequencing the DNA of risk patterns and democratizing machine learning.
   1. 1. 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.
      2. Accurately Assess Risk with Pulse Risk Engine
         From day one, companies can connect data from various payment channels – even ones that haven’t been invented yet – payment types, devices, networks, behavior, accounts, geolocations, and more. Customers can also use external machine-learning tools or their own rules and models and put them into production with no engineering work. With Feedzai’s integrated platform, models go from sandbox to production with a single click.
      3. 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.
      4. Uncover Hidden Risk with Genome
         Sequence the DNA of risk and financial crime patterns with Visual Link Analysis to better understand relationships between criminal networks that would otherwise be undetectable.
      5. Manage Risk Better with Insights/Reporting
         Assess the performance of rules and models to optimize effectiveness. Monitor key metrics across your entire risk portfolio including fraud and money laundering.

“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.” said Nuno Sebastiao, CEO of Feedzai “The end result is very clear: more accounts opened, approval rates soar, false declines plummet. And most importantly, financial institutions win customers’ trust and loyalty like never before.”

Feedzai has been redefining risk management for years, helping teams across the globe achieve successful results. Within months of implementing Feedzai, one multi-national payment provider saw 13 times fewer alerts and reduced fraud losses by $5 million. They were also able to deliver a dramatically improved customer experience.

Feedzai CEO Nuno Sebastiao introduced the concept of RiskOps at an innovative panel at the Money20/20 conference in Las Vegas. The panel, titled “100 ft Wave, 230 MPH, 3000 ft Cliff – Risk Management through the Eyes of World Champions” invited three of the top risk-takers to share how they deal with the risk of extreme sports and how it can be applied to the financial industry. Alex Honnold, the first person to climb Yosemite’s 3,000-foot El Capitan wall without ropes, Danica Patrick, the first female to ever win in IndyCar racing history, and Garrett McNamara officially certified by Guinness World Records for surfing the largest wave ever, joined Feedzai’s CEO, Nuno Sebastiao, on the main stage.

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:
Feedzai [email protected]

• 146% increase in peer-to-peer (P2P) Payments 
• Number of Online Transactions is Nearly Double the Number of In-Person Transactions
• “Smishing” Joins the List of Top 5 Fraud Scams for the First Time

San Mateo, Calif. & Lisbon, Portugal – Oct 7, 2021 – Feedzai, the world’s leading cloud-based financial crime management platform, has released its most recent Quarterly Financial Crime Report. The report analyzes financial crime and consumer spending trends from more than 1.5 billion global transactions from April to July this year. According to the analysis, six months into the second year of a global pandemic, consumers’ shift to digital banking has only gotten stronger. The data reveals continuous move to cashless transactions, with a 146% increase in P2P payments, a 44% decrease in cash transactions, and a 109% increase in online transactions, to nearly double the number of card-present or in-person transactions. With this focus on digital payments, financial criminals have also shifted their targets online. The number of online card fraud attempts increased by 23% in this time period.  

“Cashless payments were already on the rise, but the pandemic accelerated all forms of digital transactions when lockdowns hit,” said Jaime Ferreira, Senior Director of Global Data Science, Feedzai. “Millions more people experienced just how convenient digital payments and banking are when they couldn’t go to a bank branch or a restaurant or grocery store. Cashless transactions are not the future anymore, they are today. But the convenience comes with a cost. Financial institutions and retailers need to address the financial risk and higher complexity attacks that arise with the digital evolution.”

Top Fraud Scams

With fraud on the rise, the report also identified the top five fraud scams in the second quarter of 2021. Purchase scams, a type of scam where consumers pay for products or services that never arrive, took the top spot due to the overall increase in online shopping. In another indication of consumers relying more and more on their mobile phones, smishing scams made the top five list for the first time. Smishing is the SMS version of phishing, where fraudsters send text messages to trick consumers into clicking dangerous links and sharing personal information.

The top five fraud scams were:

1. Purchase scams
2. Social engineering scams
3. Impersonation scams
4. Account Takeover (ATO) Fraud 
5. Smishing scams

Riskiest U.S. Cities for Fraud

With fraud on the rise, the report analyzed fraud rates geographically in the United States to reveal the cities with the highest increase in fraud over the past year. The riskiest cities were:

1. Las Vegas (with fraud up 411%)
2. New York (up 396%)
3. Charleston (up 251%)
4. Nashville (up 193%)
5. San Diego (up 97%)
6. Orlando (up 80%)
7. Chicago (up 56%)
8. New Orleans (up 48%)

Consumer Tips to Prevent Online Fraud

The report includes tips for consumers to get some control back and avoid being victims of online fraud. Here are three tips from the report:

1. Listen to Your Bank – Banks are constantly studying and learning about the latest fraud trends. And they have a vested interest in keeping their consumers safe from fraud. Your bank’s educational resources are designed to protect you. Make sure you read/watch them and heed their advice.
2. Use Biometrics and 2FA – Enable biometric or two-factor capabilities on your mobile devices, such as facial scans or one-time passwords. Not only do these solutions improve security, they can also ensure a much smoother experience.
3. Protect Your Information – Be mindful of text messages, emails or websites designed to trick you into revealing personal information. If you receive a suspicious communication claiming to be from your bank, don’t engage. Instead, report your suspicions to the bank.

Access Feedzai’s Quarterly Financial Crime Report to learn more about the latest fraud and consumer trends.

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.

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