Feedzai has partnered with Austrian Raiffeisen Bank which will give the bank’s customers more security due to real-time monitoring in the payment channels.
Raiffeisen Bank International’s (RBI) financial crime management team will be able to use Feedzai’s advance AI products, such as AutoML, for increased effectiveness as well as visual link analysis Genome to find illicit patterns.
Head of RBI’s group compliance division Christoph Lehner said the groups profit growth led it to find a partnership that would help its growth plans.
“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,” he said.
Feedzai chief executive and co-founder Nuno Sebastiao said that Feedzai could help a bank transform itself into a tech company that looked after its customers.
“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.
“We’re proud to be working with such a forward-thinking bank to create the future of banking together,” said Mr Sebastiao.
Eliot Hastie is a journalist on the wealth titles at Momentum Media.
Eliot joined the team in 2018 having previously written on Real Estate Business with Momentum Media as well.
Eliot graduated from the University of Westminster, UK with a Bachelor of Arts (Journalism).