How can banks onboard new customers if they can’t trust them? New data from Feedzai and Chartis Research found 1 in 4 banks are concerned about financial losses from new account fraud. Additional findings presented in the report include: ➡️ Negative customer experiences can cost banks $1.5 million in lost revenue ➡️ 3 in 5 banks are concerned about bot-driven account openings attacks ➡️ 53% of banks expect application fraud to rise In this upcoming webinar, Chartis’ Nick Vitchev and Feedzai’s Daniel Holmes unpack the report’s findings into new account fraud, how to stop, and explore how to protect revenue while enhancing the customer experience. Secure your spot today! https://hubs.la/Q02S4gFj0
Feedzai
IT Services and IT Consulting
San Mateo, CA 74,827 followers
End-to-end protection from fraud and financial crime.
About us
Feedzai is the market leader in fighting fraud and financial crime with AI. Our RiskOps platform leverages machine learning and big data to prevent and detect financial crime for some of the world's largest banks, payment providers, and merchants. With offices in the US, Europe, Latin America, and Asia, Feedzai serves customers across the globe, delivering powerful risk management solutions that enable financial institutions to protect themselves and their customers from financial crime and uncover emerging fraud patterns. Feedzai is committed to providing its clients with the most advanced and effective solutions and expertise while driving innovation and advancing the fight against financial crime. To learn how we can help your organization transform its risk management, contact us today. Feedzai is a Series D company with a valuation of $1.5B. Our technology protects 900 million people in 190 countries from fraud. Feedzai is the world’s first RiskOps platform, protecting people and payments with a comprehensive suite of AI-based solutions designed to stop fraud and financial crime. The world’s largest financial organizations trust Feedzai to safeguard trillions of dollars of transactions and manage risk while improving the customer experience.
- Website
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https://feedzai.com/
External link for Feedzai
- Industry
- IT Services and IT Consulting
- Company size
- 501-1,000 employees
- Headquarters
- San Mateo, CA
- Type
- Privately Held
- Founded
- 2011
- Specialties
- Big Data, Real-time Data Processing, Business Monitoring, Fraud Prevention, Large Scale Data Processing, Event Processing, Business Intelligence, Operational Intelligence, Hadoop Integration, Cassandra Integration, Analytics, Predictive Modeling, SaaS, Transaction Fraud, KYC, Artificial Intelligence, and Machine Learning
Locations
Employees at Feedzai
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Elise Qian Huang
CEO/Managing Partner at Olive Technology Ventures
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Fabio Reginaldo
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Riccardo Brizzi
Operational Strategy & Turnaround Consultant | COO | SVP | Expert in turning around underperforming businesses by focusing on operational…
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Kevin Spurway
Chief Marketing Officer at Feedzai
Updates
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We are Celebrating Global Diversity Month. Diversity, Equity, Inclusion, and Belonging are vital components of our culture. Take a look at this month's Feedzai Spotlight and learn about out DEIB initiatives and more. #hiring #DEIB #culture
Celebrating Global Diversity Month: Feedzai’s Journey Toward a More Inclusive Workplace
Feedzai on LinkedIn
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How will a new account fraud strategy improve onboarding? • Comprehensive Detection: A robust new account fraud solution identifies synthetic IDs, bots, and impersonation attempts. This capability should be seamless, ensuring fraud detection doesn’t stop at onboarding but continues across the entire customer lifecycle. • Money Mule Alerts: Combining medium-risk onboarding and inbound payment scores can flag suspicious activities that might go unnoticed when assessed individually, offering a more holistic view of potential fraud. • Increased Awareness: Many money mule accounts are opened to funnel illicit funds, yet customer education on these risks is often lacking. By prioritizing new account fraud, banks can take the lead in educating their customers on the dangers of unknowingly becoming money mules. Don’t miss the final installment of Daniel Holmes and Richard Harris’ discussion on new account fraud! #bankingindustry #riskmanagement #fraudprevention
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Fraudsters no longer need to piece together stolen information to build synthetic identities. With advancements in #GenAI, they can now create fake identities and open fraudulent accounts faster than ever. How can banks effectively identify real customers from AI-generated synthetic identities, especially during onboarding? Join Feedzai’s Lenny Gusel and Thomson Reuters’ Amanda DuPont for an in-depth discussion on the use of GenAI in fraud, strategies to combat fake accounts, and ways to optimize fraud detection and reduce verification costs. Register now and ensure your organization stays ahead of the curve! #FraudPrevention #BankingInnovation
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The latest report from Feedzai and Chartis Research surveyed professionals in risk, fraud, and digital channels worldwide to explore key insights into new account fraud. Among the report’s key findings: ➡ 1 in 4 banks fear financial new account fraud losses. ➡ Poor customer experiences can cost banks $1.5 million in lost revenue. ➡ Over 60% of banks are concerned about bot-driven account openings attacks, ➡ 53% of banks expect application fraud to rise. Join Nick Vitchev from Chartis and Daniel Holmes from Feedzai as they discuss the latest trends in new account fraud, share proven strategies to prevent fraud at onboarding, and explore how to protect revenue while enhancing the customer experience. Secure your spot today!
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Access this content and more in the LinkedIn app
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Why should banks care about latency? Latency is critical for banks and financial institutions to assess their machine learning systems’ performance. For example, it could reflect the time it takes for a system to process a single transaction, shedding important light on the speed and efficiency of your bank’s operations. Unfortunately, latency is often misunderstood or misrepresented. Feedzai’s Pedro Bizarro clarifies how it affects your fraud prevention operation and what banks should look for when evaluating latency service provider claims. #MachineLearning #Banking https://hubs.la/Q02Rxvtb0
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Feedzai and PwC have partnered to establish a Center for Excellence devoted to fighting financial crime. This strategic partnership will focus on delivering cutting-edge fraud prevention solutions for banks, enabling them to better protect businesses and customers. Feedzai's advanced technology will blend seamlessly with PwC's deep industry expertise and global reach in this newly established Center of Excellence in Czechia. It will also act as an innovation hub, producing continuous improvements and ensuring institutions are equipped to tackle financial crime and fraud with the latest tools and advancements. #Innovation #Banking #Technology #ArtificialIntelligence https://lnkd.in/gt2-t-di
Feedzai and PwC Partner to Establish Center of Excellence, Revolutionising Financial Crime Prevention for Financial Institutions | Feedzai
feedzai.com
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We’re live at The Hong Kong Institute of Bankers Annual Banking Conference! Right now, Sean Ryan is on stage with industry leaders, EY’s Tracy Law, HSBC’s Will T., KF Lam from Fubon Bank, and Millie P. from WeLab Bank tackling the urgent issue of "Fighting Back Against Scams & Mules: What Banks Can Do to Protect Their Customers." This conversation comes at a critical time—Hong Kong recently saw an unprecedented surge in scam cases, with nearly 20,000 reported in the first half of 2024 alone, a 6% rise from last year. The total financial loss skyrocketed to $4.5 billion HKD, a 66.5% increase. With the Hong Kong Monetary Authority (HKMA) actively guiding financial institutions and collaborating with the Hong Kong Police through the Anti-Deception Coordination Centre (ADCC), this session is a must for anyone looking to stay ahead in the fight against financial crime. After the panel, stop by our booth to connect with the Feedzai team. We’d love to discuss how we can support your banks in enhancing fraud prevention strategies. #HKIBConference #FraudPrevention #Banking #Fintech
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How is gen AI being used to facilitate new account fraud? Gen AI enables sophisticated fraud techniques that undermine traditional onboarding checks: • Document Creation: Fraudsters can generate highly realistic identification documents quickly. • Synthetic IDs: They exploit partial identities, filling in gaps to create believable profiles. • Deepfakes: By now, you’ve probably heard about high-profile scams like the $25 million CFO fraud. But the same deepfake technology can also be used earlier in the onboarding process. As with the advent of the web, gen AI presents both opportunities and threats. For an in-depth discussion, tune in to Daniel Holmes and Richard Harris's third installment on new account fraud and gen AI. #artificialintelligence #generativeai #fraudprevention
New Account Fraud and Gen AI (Feedzai Spotlight Sessions)
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The bot landscape has grown up. The pace of cat-and-mouse evasion techniques between bot authors and fraud fighters has never been so fast and furious. One key factor fueling this arms race is the increasing accessibility of bot creation. The rise of Bots-as-a-Service platforms has lowered the barrier to entry. With minimal technical skills, anyone can subscribe to a service that provides a virtual machine, a user-friendly console, and plug-and-play automation tools. Daniel Holmes explains why now is the time for banks to assess their bot detection capabilities and ensure they have the right mix of defenses. #Bots #Fraud #Malware #FraudDetection https://hubs.la/Q02R4sl00
How FIs Can Outsmart Bot Attacks | Feedzai
feedzai.com