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.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more
Related companiesView all >
