Feedzai and DataRobot team up to tackle financial crime
Anti-fraud solution provider Feedzai has collaborated with DataRobot to enable FIs, merchants, and processors to add DataRobot’s machine learning models to the Feedzai platform, reports David Penn at Finovate.
The integration, made possible via the OpenML platform Feedzai announced last year, will enable FIs to automate the creation of advanced machine learning models for fraud detection and AML, providing a higher level of defence against financial crime.
“This integration with DataRobot enables us to further open the Feedzai platform to powerful machine learning algorithms into our platform to offer even more of the world’s advanced artificial intelligence (AI) tools to our customers,” Feedzai SVP of product Saurabh Bajaj says. “This is how we are democratising AI for our customers.”
The integration also gives data scientists the ability to conduct data cleaning and analysis, feature engineering, and model training and testing, all within the Feedzai platform.
Data scientists can also import external models to the platform, as well as take advantage of Feedzai’s other tools, including its automated rules engine, advanced link analysis, Risk Ledger, and Genome to enhance fraud detection further.
With $5 billion in transactions scored daily, Feedzai protects ten of the largest 25 global banks from fraud.
Last month, the company announced a partnership with Citi, which will feature the integration of Feedzai’s anti-fraud technology with Citi’s Treasury and Trade Solutions.
Feedzai also unveiled its latest financial crime prevention solution, Risk Ledger, in December. Risk Ledger leverages the millions of transactions processed via its platform to provide a more comprehensive anti-fraud solution.
Founded in 2009 and based in San Francisco, Feedzai has raised $76.1 million in funding, and includes Data Collective DCVC, Sapphire Ventures, Citi Ventures, and Oak HC/FT among its investors.