AI-native RiskOps platform for financial crime prevention Feedzai has teamed up with Matrix USA in a global collaboration aimed at supporting FIs in fighting fraud and money laundering.
To achieve this, Feedzai and Matrix USA, a provider of advisory and technology services for the financial industry, plan to deliver modern technology and services.
Combatting AI fraud with AI
Considering that more criminals embrace AI to further support their endeavours, many financial institutions are coming face-to-face with the issues brought by outdated infrastructure that cannot keep pace with evolving threats.
By merging Feedzai’s AI-native financial crime prevention technology with Matrix USA’s implementation and advisory expertise, the two companies plan to address these difficulties and provide organisations with more solid defences without negatively impacting day-to-day operations. Adding to this, Lior Blik, CEO of Matrix USA, mentioned that, as financial institutions are under more pressure to modernise their fraud and AML defences without affecting business, combining the company’s capabilities with Feedzai’s AI features will bring a more efficient and reliable path for customers to advance fraud prevention and facilitate stronger compliance.
Furthermore, as part of their strategic move, Feedzai and Matrix USA are set to jointly operate a Centre of Excellence, planning to roll out a structured and repeatable approach to deploying AI-based fraud and AML solutions across multiple markets.
Nuno Sebastião, Co-Founder and CEO of Feedzai, with AI substantially changing the fraud landscape, financial institutions require solutions that can evolve at the same pace as this technology. By working together, Feedzai and Matrix USA seek to help financial institutions translate advanced capabilities into real-world impact against sophisticated, AI-enabled financial crime.
Collaborating with Matrix USA comes on the heels of Feedzai’s USD 75 million investment round from a few months ago, which brought its valuation to USD 2 billion. At that time, the company intended to direct the capital towards optimising its offering and rolling out new products and services.
