Feedzai’s mission is to unify data orchestration and risk management into a single platform, offering financial institutions real-time data, analytics, and AI for decision-making. The company aims to leverage DemystData’s intellectual property, sophisticated data-integration capabilities, and its Zonic data workflow orchestration platform.
External data could potentially have a significant business impact for financial institutions, but it comes with a complex process, involving resources for KYC, AML, identity, fraud, credit checks, and compliance. The acquisition aims to tackle this complexity by unifying data and AI at scale for customers.
Feedzai was seeking ways to access data faster so it can aid financial institutions in accelerating risk decisions with the fewest consumer friction points. By pairing its AI capabilities with DemystData’s ability to access data, the company ensures data points are fully utilised to drive smarter and faster decisions. Feedzai’s addition of automated data orchestration to its RiskOps Platform is a combination that will benefit all customers. This should also help the regulators' cause of reducing mule accounts and scams.
The acquisition will deliver a unified AI platform that integrates data via orchestration with fraud and financial crime prevention measures, with contextual intelligence that combines identity, credit, network, financial history, behavioural insights, and other fraud prediction insights.
It also offers an optimised RiskOps lifecycle with improved account operating capabilities, ensuring a consistent end-to-end customer view from initial onboarding through ongoing transactions. The onboarding experience will be faster and with fewer friction points for customers. Additionally, they will benefit from reduced false positives, which will boost satisfaction and retention.
Feedzai’s customers will leverage improved risk data by utilising shared insights from a diverse global community of banks, payment providers, and networks on fraud and financial crime. Operational efficiency will increase for non-technical teams with automation to build and manage data workflows, significantly reducing IT dependency.
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