Are you looking for a software that can detect fraud transactions in your business? If so, then definitely read this article. In this article we have discussed one such advanced machine learning software platform that helps detect frauds in your business transactions. Curious to know which platform we are talking about, its called Feedzai Solutions.
Keep reading to learn more about this platform and what they offers. Also know what customers have to say about this company.
What is Feedzai?
Feedzai is a platform that offers financial fraud detection software which uses advanced AI or machine learning to find financial risks and manage it for banks, processors and merchants. So if you are looking for a secure financial fraud detection software for your business, you can use Feedzai.
Feedzai is a startup company that detect financial fraud for businesses, merchants and banks by developing a real-time machine learning tools for that specific goal. Using Feedzai software you can identify payment transactions that are fraudulent which in turn will minimize the chances of financial risks for your business.
Financial services, e-commerce industries and retail businesses can gain advantage by using Feedzai and decreases their financial losses. In the day-and-age of the internet, cyber-crimes and cyber-frauds are increasing exponentially. Hence why Feedzai uses its platform to offers its advanced software to avoid financial frauds online.
Feedzai aims to ‘make commerce safe’ by providing its advanced machine learning software. This startup company falls under Top 50 Fintech companies. Feedzai was classifies as a Unicorn startup in March 2021 after a major investment in Series D funding taking the company valuation above 1 billion dollars.
It offers free demo for business who are looking to try the service before purchasing the solutions.
Feedzai: The Data Science Company
Feedzai is a private company founded by Nuno Sebastiao( presently CEO), Paulo Marques and Pedro Bizarro in 2011. The company headquarter is located in Coimbra, Portugal while the U.S. headquarter of the company is in the Silicon Valley which is located in San Mateo, California.
Initially, Feedzai sold its fraud detection solutions and operational intelligence solutions to European countries only. But later the company expanded its services to the U.S.A in 2014. Feedzai has three subsidiaries located in UK, USA and Portugal. The company has more than 500 employees at present.
Industries that mostly uses Feedzai are Corporate Banks, Retail Banks, Fintechs and PSPs and Acquirers.
Feedzai Solutions
Some of the financial fraud detection solutions Feedzai offers are listed below.
- Scam Prevention
- KYC/CDD
- Transaction Fraud
- Digital Trust
- Account Opening
- Watch-list Screening
- AML Transaction Monitoring
- Account Takeover
- Acquirer & PSP Solutions
Reviews On Feedzai
Here are some reviews on Feedzai by verified customers who have used this platform.
Caroline says Feedzai, “Well-detected fraud identification.”
| “I believe that in these times where there is so much deceit and scams there is mistrust whenever transactions are made, but Feedzai provides precisely the security that is needed to carry out transactions with confidence. PROS With Feedzai, it generates confidence to carry out any money process by having a security scheme where it perfectly analyzes each fraud in payments in real time, avoiding fraud before it happens.The scam is so common to happen but with Feedzai we have had the guarantee and security that was the solution to combat scams, with their good service they also provide luxury attention giving more confidence that it is a platform that can be trusted. CONS No, we have not had any type of inconvenience because your good service has been correct from the beginning” |
Shmuel says, “excellent product and staff,” about Feedzai.
| “PROS the software is updated with all of the latest technology that are out there in the market. big data, machine learning, artificial intelligent etc.. the product is flexible and can be customized as well as being configured for monitoring in several dimensions such as card level, merchant level, online banking etc. CONS it seems as the product was built to perform better on cloud than on premise. REASONS FOR SWITCHING TO FEEDZAI we had the impression that the product was already ” too old” and didn’t fit to the latest trends and technology. the product was black box without the ability to be customized to our needs.” |
Marcio says, “A great tool full of potential to evolve a lot yet.”
| “Feedzai’s tools meet our demand for a tool to create/manage/control fraud prevention rules and cases. With a year of use we have already achieved a lot of gain with the tool but we still have the feeling that the tool has the possibility of delivering much more. We really hope to see a dashboard visualization session with our main KPIs and reports that show us something more, a Pulse with a better flow of rules creation, that involves fewer steps and more automation. And we expect a more fluid CaseManager, with quick loads and different possibilities for creating rules and customization”. |
Anthony comments, “Secure finance.”
| PROS Builds digital trust to protect customers and the business from fraud and cyber attacks. With the right tools and strategies, risks can be identified and mitigated before they become a problem. They have advanced technology such as behavior analysis and machine learning to obtain greater certainty in risk assessments and guarantee full transparency to stay ahead of compliance requirements. CONS They have a weakness and it is the customer service team that does not give specific answers about the information requested. |
David says, “Great product for more sophisticated use cases.”
Conclusion
Now that you know about Feedzai will you use this platform to secure your business from financial frauds? If you do, let us know your experience with the services provided by Feedzai.
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