Feedzai Launches AI in Case Manager, Powered by Next Generation AI Capabilities

September 24, 2019

Feedzai Launches AI in Case Manager, Powered by Next Generation AI Capabilities

San Mateo: Feedzai has announced the availability of AI-powered Case Manager — a major upgrade that revolutionizes the way analysts and investigators review cases and alerts. By bringing the power of AI into Case Manager, Feedzai boosts the efficiency of financial crime prevention, while simultaneously improving the accuracy of detection.

With the rapid evolution of regulatory requirements, the introduction of new, real-time payment methods and digital transformation changing how businesses and consumers interact, an overhaul of the Case Manager — the industry’s standard tool that analysts and investigators use to manage transaction alert queues — has been long overdue. Feedzai’s AI-powered Case Manager eliminates manual piecing of information and data matching processes that inhibit prevention of increasingly sophisticated financial crime, and drastically improves detection by making relevant contextual data easily accessible, enabling analysts and investigators to make well-informed decisions while fulfilling all SLAs.

“Our vision is to continue building the most advanced AI-powered solutions to combat the increasing sophistication and scale of financial crime,” says Saurabh Bajaj, Chief Product Officer. “But AI is only as good as the data it has access to. Through better access to data, our latest AI-powered innovations revolutionize the way financial crime analysts and investigators work within Case Managers, saving institutions significant amounts of money in operational costs and lost revenues in the process.”

Feedzai’s Next Generation of Whitebox Explanations™ Unlocks the Power of AI Explainability for Analysts and Investigators

  • Feedzai further expanded its innovative Whitebox Explanations™ to provide transparency and insight into the risk model’s decision regardless of whether it was built inside the Feedzai platform or imported. This will enable financial institutions and merchants to understand and leverage the most suitable algorithms for their business, while still providing context essential to ensure compliant decision-making.

Advanced Data Visualization and Automation with Feedzai Genome in Case Manager        

    • Feedzai Genome, a powerful AI-based link analysis tool, which was first introduced in 2018 on a stand-alone basis is now integrated into Feedzai Case Manager. With Feedzai Genome, analysts and investigators gain deeper insights by seeing hidden linkages between various entities in a transaction, such as IP, Card Token, and Device ID. Now, when analysts and investigators review transactions in their queue, Genome empowers them to reach the right decision faster.
    • Feedzai Genome also automatically recognizes suspicious visual patterns using GenometriesTM and flags them as mule accounts, triangle schemes, structuring or other financial crime typologies, which drastically improves analysts’ detection capabilities.
    • Additionally, with Feedzai’s research in new techniques such as Active Learning, AI in Case Manager can intelligently distribute the workload automatically among analysts according to their skills and expertise speeding up the review process and ensuring accuracy. The predictive capabilities of Active Learning also help analysts with training models for new and unseen attacks.

Genometries TM automatic pattern recognition and financial crime typologies matching algorithm

Putting All the Necessary Data at Analysts’ Fingertips with Omnichannel Case Manager

  • To bring the full power of AI to Case Manager, Feedzai broke down the data silos within Case Managers, giving analysts simpler access to data through a unified interface that incorporates transactions from all payment channels, use-cases and product lines. This omnichannel structure of Feedzai Case Manager empowers analysts to work smarter and make better-informed decisions when detecting financial crime.
  • Data from multiple channels now also fuels Feedzai Genome, enabling the visualization and detection of new and richer GenometriesTM which in turn helps analysts to better assess risk and uncover financial crime that would have been obfuscated by channel and uses-case silos.

Feedzai clients can contact their designated account managers to learn how to take advantage of the newly launched AI in Case Manager capabilities.

 

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]


Artificial Intelligence makes transactions via PicPay even safer

June 12, 2019

Artificial Intelligence makes transactions via PicPay even safer

Partnership with the risk management specialist Feedzai allows the digital wallet to use machine learning to analyse financial transactions

As one of the main trends of the new economy, AI has proved to be a great ally in monitoring financial risks in digital environments, even as  its potential is still being explored. PicPay, the largest payment application in Brazil with more than 10 million users – has recently sealed a partnership with Feedzai, becoming a pioneer in the use of AI within a robust security system.

Through this partnership, the application will use machine learning, a method of data processing in the field of AI, to analyse thousands of transactions per second to prevent fraud and financial crimes. In addition, the tool speeds up the processing of payments, meeting the expectations of users for swift operations.

“PicPay sees artificial intelligence as the future and has taken a step forward by including it in its processes. Our focus is on the security of transactions made via the app and for this we have partnered with Feedzai, a leading technology company at the forefront of AI in the market”, said Diogo Roberte, cofounder of PicPay, also highlighting performance gains and operational efficiency.

“Innovative forms of payment offer great advantages for the consumer, who can now transact and buy instantly and anywhere. It is vital that all of these people are protected in real time. Artificial intelligence is the only technology capable of coupling security with user experience”, says Nuno Pires, Senior Vice President of Feedzai.

Feedzai products are used by large financial institutions, such as Citi, Lloyds Banking Group, First Data and many others.

 

About PicPay:
PicPay is the pioneering mobile payment application in Brazil, being a complete ecosystem with elements of social networks. Created in 2012, the app lets users pay friends, establishments and accounts via their mobile phone, instantly and without fees, moving and paying money on a secure, agile, simple and user-friendly platform. PicPay is revolutionising the way people relate to money by believing that behind every payment there is a unique experience.

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]

PicPay – GBR Communication
Bruno Dantas | +55 11 3047 2404
[email protected]


Feedzai Adds Powerful New Dimensions to Customer-Centric Account Opening Solution

June 3, 2019

Feedzai Adds Powerful New Dimensions to Customer-Centric Account Opening Solution

Feedzai’s updated machine learning-enabled Account Opening solution helps banks onboard customers with less friction, less fraud, and ultimately better customer acquisition rates.

Feedzai has launched new tools to help banks and financial institutions offer account opening solutions that are more customer-centric, with unparalleled fraud prevention. The machine learning-enabled account opening decision-making engine increases operational efficiency, increases top-line revenue, and allows banks to acquire more customers in real time with less friction.

Besides centralizing clients’ fraud management systems, Feedzai’s Account Opening solution provides machine learning, tailored workflows, as well as third-party integration and data enrichment to help banks offer that frictionless experience that is also scalable, and keeps both fraud rates and false positive rates low. Feedzai’s Account Opening solution now offers the following capabilities:

Powerful machine learning tools that enable companies to boost operational efficiency, make better decisions, and detect fraud effectively

  • OpenML allows data scientists to choose how they want to work, either leveraging proprietary and external algorithms entirely within the Feedzai Platform, or using external tools to build models that are then imported to Feedzai’s Platform.
  • AutoML shortens the traditional data science workflow by automating time-consuming tasks and enabling banks to reduce the time to build production-ready models by weeks.
  • Genome quickly identifies and lets users easily act on fraud patterns, including those associated with synthetic identity fraud, that would have been difficult or impossible to uncover before.

Tailored workflows based on risk assessment to reduce friction, creating a more customer-centric experience for applicants 

  • The updated solution provides tailored workflows that leverage customized user journeys and trigger streamlined application processes based on applicants’ risk scores, creating personalized onboarding experiences for applicants.
  • Step-up authentication is seamlessly integrated and extended to only applicants who must undergo them, reducing friction and increasing customer acquisition.

3rd party integration and data enrichment that gives users a holistic view, enabling banks to onboard legitimate customers and increase their lifetime value

  • Feedzai’s third-party integration and data enrichers provide a holistic, full-picture view of an applicant, so banks no longer have to piece together the siloed views they often get from other third-party integrations.
  • Banks can now use their CRM data to gain as much insight as possible into their applicants. They can also use cross-industry consortium data from Feedzai’s Risk Ledger to gain more visibility into fraudulent activity to ensure they aren’t acquiring fraudulent customers.

“As consumers demand to open accounts nearly instantly from their smartphones, many institutions are struggling to offer that ability in a way that’s both safe and scalable without the burdensome identification documents,” says Saurabh Bajaj, SVP, Product at Feedzai. “That’s what drove us to create new tools that specifically allow for this global digital transformation while keeping consumer experience and safety as the driving mission of our artificial intelligence technology.”

To learn more about Feedzai’s account opening solution and the technology that makes all of this possible, please click here: Account Opening.

 

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]


Ambassador Susan Rice To Join the Feedzai Financial Crime and Technology Summit, Speaking on Security and Global Policy

May 8, 2019

Ambassador Susan Rice To Join the Feedzai Financial Crime and Technology Summit, Speaking on Security and Global Policy

Amb. Susan Rice, United States National Security Advisor (2013-2017) under President Obama, and U.S. Ambassador to the United Nations (2009-2013), will be interviewed by Feedzai CEO Nuno Sebastiao on the main stage at Money20/20 Europe, June 3
The Summit will feature stage content, breakout workshops with speakers from Citi, BioCatch, and others, followed by an exclusive reception with Ambassador Rice

Amsterdam – Feedzai, the market leader in using AI to fight financial crime, is launching the Financial Crime and Technology Summit in partnership with Money20/20 Europe, which will take place at the RAI convention center in Amsterdam on June 3rd. Industry leaders from prominent companies, including Citi, BioCatch, Feedzai, and more will present hands-on material to Summit attendees to help spread best practices around defending companies from security issues and financial crime attacks.

Ambassador Susan Rice, who was responsible for much of the global security policies during the President Obama administration, will be interviewed on Money20/20’s main stage by Feedzai CEO Nuno Sebastiao. The session, titled “Banking on security: Global affairs, and the age of reputation crisis” will feature Ambassador Rice’s insights on international security and policy, while Sebastiao relates those insights to the need for the financial institutions in attendance to invest in their fight against financial crime.

“As National Security Advisor and Ambassador, I’ve spent my career working to advance global security and prosperity – two inextricably linked goals,” said Ambassador Rice. “I know how imperative it is that we engage the private sector in solving some of the most intractable problems of our time.”

“Financial crime is now one of the most important concerns for CEOs and regulators after so many highly public breaches and bad practices in the last few years,” said Nuno Sebastiao, Feedzai CEO and co-founder. “We also know this kind of crime leads to serious human rights campaigns and international security issues like human trafficking and terrorist financing, so we are proud to have Ambassador Rice join us at the Summit as we work to solve these serious issues.”

Following the main stage presentation, Summit attendees will have access to an exclusive area for the remainder of the Summit and take part in stage content, breakout workshops run by leaders at Citi, BioCatch, DataRobot, PaySafe, and other companies, and then end with an exclusive reception with Ambassador Rice. The workshops will include topics around technology like machine learning, trends within fraud and AML, and tangible tools to fight financial crime.

The Financial Crime and Technology Summit is part of Feedzai Frontiers, a global speaker series that brings thought leaders and industry titans, including Professor Stephen Hawking and Richard Branson, together at events around the world to address the most important technological issues and opportunities facing humankind, such as AI and ethics, the reinvention of retail, and managing risk in a digital world.

 

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]


North American Bancard Partners with Feedzai To Provide Best-In-Class Risk Management for Merchants

April 30, 2019

North American Bancard Partners with Feedzai To Provide Best-In-Class Risk Management for Merchants

Feedzai and NAB utilize sophisticated machine learning capabilities to improve fight against fraud, while enhancing customer experience

TROY, Mich. – North American Bancard Holdings, LLC (NAB), an innovative payment technology company with a diverse product platform, and Feedzai, a leader in the use of artificial intelligence for real-time risk management across commerce, today announced the launch of a comprehensive fraud solution that leverages machine learning to offer enhanced risk management and fraud protection for merchants.

The partnership has created customized fraud prevention tools that will address existing and adapt to new types of fraud, using real-time insights to detect fraud patterns and transaction anomalies. This will, in turn, improve both fraud prevention capabilities and merchant onboarding for NAB, while reducing consumer friction including false positives.

“Facilitating safe, secure and fast transactions while eliminating friction in the underwriting and risk processes through technological advancements is at the core of what we’re trying to offer to merchants,” said Jay Nadarajah, chief risk officer at North American Bancard. “These technological advancements drive efficiencies and speed in identifying fraudulent activity.”

As businesses undergo digital transformations, there is a recognized demand for technology-based solutions to secure those omnichannel transactions. Nearly three quarters of businesses cited fraud as a growing concern over the past 12 months and 63 percent report the same or higher levels of fraudulent losses during the same period, as compared to the prior 12 month period, according to the 2018 Experian Global Fraud and Identity Report.

Merchants need a reliable and cost-effective way to decrease the risk of fraudulent transactions, along with a frictionless merchant application experience, while at the same time enhancing fraud detection. These needs are precisely what the partnership between NAB and Feedzai is designed to address.

“Digital transformation across industries has been great for consumers, but also for increasingly sophisticated fraudsters looking for new ways to commit fraud,” says Saurabh Bajaj, Feedzai Head of Product. “That’s why we need a real-time AI engine that can secure transactions, using intelligence across all business channels. That’s how we secure transactions, while also evolving to meet new challenges while growing alongside these businesses.”

 

About North American Bancard Holdings:
North American Bancard Holdings (NAB) is reimagining the payment experience. As a leading payment technology innovator, NAB has a diversified product platform that provides a modern end-to-end infrastructure to enable globally-preferred payment types. NAB’s superior solutions deliver seamless payments experiences in mobile, online, and in-store environments. Serving more than 350,000 businesses and processing more than $45 billion in electronic payments annually, NAB delivers functional, frictionless solutions for our evolving merchant economy. For more information, visit  www.nabancard.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]

North American Bancard Media Contact:
Josh Griffin
North American Bancard
[email protected]
248-269-6000 ext. 5422


Raiffeisen Bank International Partners with Feedzai, Bringing Advanced Machine Learning to European Banking to Fight Fraud

April 24, 2019

Raiffeisen Bank International Partners with Feedzai, Bringing Advanced Machine Learning to European Banking to Fight Fraud

The new partnership will allow Raiffeisen Bank International to offer both industry-leading security and best in class customer service.

Vienna, Austria – Raiffeisen Bank International (RBI), one of CEE’s leading banking groups, and Feedzai, a global leader in using AI to fight financial crime, today announced a partnership. Through the cooperation with Feedzai, RBI’s customers will benefit from even more security due to real-time monitoring in the payment channels.

Financial crime attacks are increasing, and the need for robust security using the most advanced machine learning is more important than ever, especially for banks. This includes solutions that are flexible enough to scale to new use cases and channels as the bank develops. This is especially important in the age of PSD2 and similar regulation, where RBI and other EU banks strive to provide open banking solutions that meet strict security standards. Feedzai’s AI-based solution is the key to making that happen.

RBI’s Financial Crime Management teams across the group will use Feedzai’s advanced machine learning products, such as AutoML, automating feature engineering and other parts of the data science loop for increased effectiveness as well as efficiency, and Feedzai Genome, visual link analysis for finding illicit patterns with greater scope and accuracy.

“This partnership will support us in keeping up the pace in this fast-evolving banking world, especially when it comes to fighting fraud in a variety of channels and products,” said Christoph Lehner, Head of RBI’s Group Compliance division.

The bank reported significant profit growth in its FY 2018 results and has highlighted future growth plans driven by focusing on digitization in all segments. Feedzai will be a key partner in that evolution to a digital bank.

“This is what it takes to turn a bank into a tech company. RBI is making a commitment to be a leader in digital banking across Europe,” said Nuno Sebastiao, Feedzai CEO and co-founder. “We’re proud to be working with such a forward-thinking bank to create the future of banking together.”

 

About RBI
RBI regards Austria, where it is a leading corporate and investment bank, as well as Central and Eastern Europe (CEE) as its home market. 13 markets of the region are covered by subsidiary banks. Additionally, the RBI Group comprises numerous other financial service providers, for instance in leasing, asset management or M&A.
In total, around 47,000 employees service almost 16 million customers through around 2,200 business outlets, the majority thereof in CEE. RBI’s shares are listed on the Vienna Stock Exchange. The Austrian Regional Raiffeisen Banks own around 58.8 per cent of the shares, the remainder is in free float. Within the Austrian Raiffeisen Banking Group, RBI is the central institute of the Regional Raiffeisen Banks and other affiliated credit institutions.

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]


Challenger Banking Company Varo Chooses Feedzai for Enterprise Fraud Prevention, Preparing for Continued Rapid Scale

April 2, 2019

Challenger Banking Company Varo Chooses Feedzai for Enterprise Fraud Prevention, Preparing for Continued Rapid Scale

Varo Money LLC (Varo), a leading challenger banking company, and Feedzai, the leader in fighting financial crime with artificial intelligence, today announced a new partnership. Varo’s continued growth will be bolstered by Feedzai’s fraud-prevention platform, which provides purpose-built machine learning for risk prevention with a focus on customer experience and flexibility to scale along with the rapidly growing bank.

Varo is on track to become the first mobile-centric national bank in the history of the United States, pending charter approval by the Office of the Comptroller of the Currency (OCC). Varo has a mission to improve customers’ financial lives. To help achieve these goals, Varo has chosen Feedzai as their enterprise fraud prevention partner, further enabling the company’s focus of using the best possible technology to offer customers enhanced experiences without added friction.

As Varo builds new technology to be more performant than legacy banking incumbents, it also offers an intelligent mobile-only banking platform focused on better customer experience. Varo can onboard new customers seamlessly, safely and at scale with the confidence that Feedzai’s machine learning platform is safeguarding the enterprise.  By building omnichannel financial crime prevention into the core of the platform, Varo is paving the way to be the leader in the next generation of banking.

“Customer security and experience is a top priority at Varo,” Colin Walsh, CEO of Varo, said. “Our partners all reflect our commitment to delivering the best possible banking experience to every customer.”

Feedzai provides the single risk engine for multiple use cases across the enterprise for Varo, all of which will run on cloud-based deployment. The flexibility and ease of onboarding new applications means that the bank can continue to scale its fraud prevention need as they continue to expand globally.

“Varo and Feedzai approach the world through the same framework of what will be best for customers, and how can we use technology to make that happen,” said Nuno Sebastiao, Feedzai CEO and co-founder. “We’re proud to be working with a leader in the transformation of digital banking.”

 

About VARO:
Varo Money, Inc. (“Varo”) is on a mission to redefine banking so it’s easy for everyone to make smart choices with their money. In one mobile app, Varo offers customers no-cost premium bank accounts and high-interest savings accounts offered through The Bancorp Bank, and tech-first features to help people manage their money more easily. As a fintech leader, Varo has been granted preliminary approval for a de novo national bank charter by the Office of the Comptroller of the Currency (OCC), and is working to become the first mobile-centric national bank in U.S. history. Based in San Francisco and Utah and privately held, Varo has raised $165M to date, led by Warburg Pincus. Varo Personal Loans are offered by Varo Money, Inc., under state licenses, subject to application approval. For more information, visit www.varomoney.com, like Varo on Facebook, and follow us on Instagram and Twitter @varomoney.

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]


Feedzai Named Best in Class in Fraud and Anti-Money Laundering Vendor Market by Analyst Firm Aite Group

March 21, 2019

Feedzai Named Best in Class in Fraud and Anti-Money Laundering Vendor Market by Analyst Firm Aite Group

Aite Group, the premier analyst firm focused on banking and payments, named Feedzai the best in class in the vendor market for helping banks, merchants and payment processors fight fraud and AML. The report focused on areas such as technology and domain expertise, scalability, flexibility, and customer references. The analyst firm named Feedzai as the market leader based on the Feedzai platform’s “flexible range of machine learning model development and deployment mechanisms” and “diverse range of data science expertise, resources, and client needs across the financial services industry.”

Aite Group’s 2019 fraud and AML vendor report highlighted how Feedzai’s technology empowers data scientists at financial institutions to build their own models in Feedzai’s platform.  The report also discussed how flexible Feedzai’s product use cases are including Transaction Fraud for Banks, Acquirers and Processors, and Merchants, as well as Account Opening and Anti-Money Laundering. This and other outcomes of Feedzai’s 24% annual spend on research and development make Feedzai the most advanced machine learning solution in Enterprise Risk Management.

Feedzai’s recent history of product innovations added to the position. The report zeroed in on Feedzai AutoML, Feedzai’s revolutionary tool that supercharges data scientists’ work by automating feature engineering and other time-consuming parts of the data science loop in fighting financial crime. Other recent innovations include:

  • Feedzai OpenML
    • Giving data scientists the flexibility to build and import models in any language, using any library, and on any platform, directly into the Feedzai platform.
  • Feedzai Genome
    • An advanced detection system, giving fraud investigators and analysts an intuitive way to find and visualize complex financial crime patterns using machine learning and link analysis graph technology.
  • Feedzai Risk Ledger
    • Financial crime prevention at scale by taking advantage of insights derived using federated data from Feedzai’s diverse customer base and third-party vendors.

Nuno Sebastiao, Feedzai co-founder and CEO, says: “Feedzai is committed to continually developing revolutionary products that can manage risk across the entire banking ecosystem. We also work hard to ensure our clients are successful, and are proud that Aite has recognized how important that customer support and experience is in being a market leader.”

In 2019, Feedzai will continue to focus on product and technology innovations including automation, explainability, and advanced machine learning methods. These innovations will continue to give financial institutions the tools not just to fight financial crime, but to upgrade their customer experience and product journey. Feedzai also continues to expand across the globe with offices across the US, Europe, and Asia, and with clients in nearly every corner of the world.

To access a complimentary copy of Aite Group’s Fraud Prevention and AML Vendor Report, please click here.

 

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]


Citi Partners with Feedzai to Provide Machine Learning Payment Solutions

December 19, 2018

Citi Partners with Feedzai to Provide Machine Learning Payment Solutions

AI Services To Help Clients Manage Payment Risk

NY, NY – Citi’s Treasury and Trade Solutions has entered into a strategic partnership with Feedzai, a leader in Artificial intelligence (AI) for real-time risk management across banking and commerce. Citi will be integrating Feedzai’s transaction monitoring platform powered by advanced machine learning technology, into its own proprietary services and platforms to provide clients with enhanced control and risk management for payments transactions. This collaboration follows a strategic investment made by Citi Ventures in Feedzai in 2016.

“Our strategic partnership with Feedzai demonstrates our deep commitment to using technology to drive innovation. With the help of Feedzai’s solution, we can scale rapidly in an effort to deliver value to our clients, allowing them to make payments securely, efficiently and without friction, across the globe,” said Manish Kohli, Global Head of Payments and Receivables, Citi’s Treasury and Trade Solutions.

Cyber-attacks have become increasingly frequent and sophisticated, and banks need to be more vigilant than ever, especially given increasing automation and digitization. Simultaneously, given the rapid growth of instant payments, client expectations for speed in processing payments continue to rise. Feedzai’s machine learning technology will automatically adjust controls to monitor discrepancies and changes in client payment behavior, allowing for the analysis and identification of potential anomalies in affected payments before they are sent for clearing. It will do this while ensuring that payments are processed quickly and efficiently. Citi expects to be live with a new solution leveraging Feedzai’s technology in 2019.

“Citi is one of the most successful banks in the world for a reason, because they invest in their customers’ experience,” said Nuno Sebastiao, Feedzai CEO and co-founder. “We’re proud to continue working together to be part of that innovation that helps Citi to continue to show the world what world-class digital transformation for banks looks like.”

Citi Treasury and Trade Solutions (TTS) helps enable our clients’ success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. Based on the foundation of the industry’s largest proprietary network with banking licenses in over 90 countries and globally integrated technology platforms, TTS continues to lead the way in offering a comprehensive range of digitally enabled treasury, trade and liquidity management solutions.

 

About Citi:
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

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]