Credit card companies, acquiring banks, payment processors, and merchant banks are continuously challenged to prevent fraud and misuse in and across different enterprise channels, products and use cases. At any point during a single transaction — whether a wire transfer, ATM withdrawal or credit card charge — the process may be hijacked, systemic weaknesses exploited, and revenue lost. Now, more than ever, it’s critical for financial institutions to uncover and manage fraudulent transactions, unauthorized activities and anomalies as they occur, in real-time.
This white paper discusses the emergence of a new class of enterprise fraud management (EFM) that provides financial institutions with sub-second fraudblocking capabilities, while achieving the industry’s lowest percentage of false positives. Called FeedZai Fraud Prevention, the solution achieves these results by executing ultra-efficient analytics over big data using innovative in-memory architecture. FeedZai is so powerful that it learns and predicts financially optimized scoring thresholds for “block transaction” and “approve but review transaction.” Built on a highly flexible platform that includes pre-configured analytic models, dashboards, workflows and data connectors, the solution deploys and delivers value within two weeks. That’s just one of the reasons why Gartner named FeedZai a Cool Vendor in real time operational intelligence.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.