Report names Feedzai “Most advanced machine learning solution in enterprise risk management”
Aite Group, an 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.
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”. 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:
- 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.
- 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.
- 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, co-founder and CEO, says: “We’re 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 recognised how important that customer support and experience is in being a market leader.”
In 2019, the firm 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. It 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.
Source: The Fintech Times