Latest news with #Novobanco
Business Wire
6 days ago
- Business
- Business Wire
Feedzai IQ Defends Banks Against AI-Driven Fraud With Privacy-Preserving Network Intelligence
NEW YORK & LISBON, Portugal--(BUSINESS WIRE)-- Feedzai, the global leader in AI-native financial crime prevention, today announced the launch of Feedzai IQ, a new family of solutions that enables network fraud intelligence without compromising customer privacy. Leveraging insights from hundreds of financial institutions across four continents and over $8 trillion in annual payment volume encompassing RTP, transfers, cards, and digital activity, among others, Feedzai IQ empowers financial institutions to make more intelligent, rapid, and precise risk assessments. 'We've always believed that the true power of AI is only unlocked through access to meaningful, high-quality data,' said Pedro Barata, Chief Product Officer at Feedzai. As fraudsters increasingly weaponize GenAI tools and stolen data — now driving over 50% of today's most sophisticated attacks — financial institutions remain hamstrung by siloed defenses and strict data-sharing limitations. Traditional data-sharing approaches raise significant concerns around privacy, security, and compliance, but Feedzai IQ eliminates the need for raw data exchange. Using federated learning, Feedzai IQ transforms anonymized, distributed data into real-time fraud intelligence, unlocking the power of collaborative defense without compromising sensitive customer information. Feedzai IQ delivers immediate value through community-driven AI models and network-based insights that enable banks to collaborate safely. Key features include: TrustScore – A real-time, AI-powered fraud risk score based on network-wide intelligence, delivering up to 4x more fraud detection with 50% fewer alerts. TrustSignals – Pre-calculated risk indicators that boost detection accuracy and improve payment acceptance, delivering a 27% increase in fraud detection and a 5% lift in acceptance rates. ' We've always believed that the true power of AI is only unlocked through access to meaningful, high-quality data,' said Pedro Barata, Chief Product Officer at Feedzai. ' While AI is surrounded by hype today, Feedzai has led the way in applying real AI to real problems—and now, with Feedzai IQ, we're combining our AI expertise with secure, network-wide intelligence. It's a breakthrough that takes fraud prevention to an entirely new level.' Customer Results Novobanco used TrustScore to uncover hidden fraud patterns — particularly scams and mule activity—achieving a 43% increase in fraud detection, a 41% higher value detection rate, and maintaining a low 0.66% alert rate. "Feedzai TrustScore helped us uncover and fight new fraud patterns that would either have gone undetected or been much harder to effectively block. We now possess a much broader and more powerful set of tools, analytic capabilities, and enhanced agility that strongly improve our effectiveness without increasing alert fatigue or negatively impacting the user experience," said Duarte Pupo Correia, Head of Direct Sales and Service Department at Novobanco. Jack Henry is equally excited about Feedzai IQ: 'Technology is enabling increasingly sophisticated fraud threats,' said Matt Riley, President of Complementary Solutions at Jack Henry. 'Innovations such as Feedzai IQ contribute significantly to the industry's ability to adapt to emerging threats and enhance operational effectiveness.' By unlocking secure, AI-powered collaboration across institutions, Feedzai IQ represents a paradigm shift in how the financial sector combats fraud. Financial institutions can now match fraudsters' speed and scale — while protecting customer trust and staying fully compliant with global privacy regulations.
Russia Today
02-06-2025
- Business
- Russia Today
Nationalist EU political activist claims bank account shut
Portuguese political activist Afonso Goncalves has said a local bank closed his personal account without warning or explanation. Goncalves, 24, is the founder of Reconquista, a right-wing nationalist movement established in 2023, who describes his association as a 'metapolitical' initiative aimed at reshaping Portugal's cultural and political landscape. The activist said Novobanco, a major Portuguese bank, closed his account without explanation and did not respond to requests for answers. 'I asked them to send me a reason in writing. They simply said 'no',' Goncalves said a video posted to YouTube on Friday. The activist is known for his vocal support of financial transparency and freedom of speech. In his video, he appeared to link the closure to his political views, though he did not provide evidence for this claim. He stated, 'This is what happens when you speak the truth. You get shut down.' Account closures by banks in Portugal are legally allowed under certain conditions, such as suspected fraud or compliance with anti-money laundering laws. However, financial institutions are typically required to provide a reason upon request. Goncalves did not say whether he intends to file a formal complaint. No court proceedings or legal actions related to the closure have been reported so far. Goncalves concluded his video by saying he would continue to 'fight for financial freedom' and encouraged others to be aware of what he described as 'systemic censorship.' Bank account closures have become increasingly common in the West. In Britain, right-wing Reform UK party leader Nigel Farage said in June 2023 that private bank Coutts closed his account. Parent company NatWest first cited financial grounds, but internal documents later reportedly showed his political views influenced the decision. In Canada, authorities froze the bank accounts of Freedom Convoy protesters in 2022 under emergency powers. Then-Deputy Prime Minister Chrystia Freeland said the measure targeted those funding the anti-government protests. The most recent case took place in Germany last month when former Chancellor Gerhard Schroeder faced payment blocks from Sparkasse Hannover over concerns about Russian ties. The bank reportedly blocked nearly €500,000 in annual transfers linked to Schroeder's role on the board of Nord Stream 2, a pipeline project owned by Russian energy giant Gazprom, despite him not being under sanctions.
Yahoo
04-03-2025
- Business
- Yahoo
Nasdaq (NasdaqGS:NDAQ) Appoints Brandis DeSimone As Head Of East Coast Listings Strengthening Client Relationships
Nasdaq recently appointed Brandis DeSimone as Senior Vice President, reflecting its focus on bolstering client relationships, which could be a factor in the company's 2.54% share price increase last week. In contrast, the broader market, including the tech-heavy Nasdaq Composite, experienced a decline during the same period due to concerns over tariffs and their potential inflationary impact. While broader market indices like the Dow Jones and S&P 500 faced sell-offs, largely driven by fears surrounding new tariffs, Nasdaq's stock managed to rise—an indication that company-specific developments may have positively influenced investor sentiment. Additionally, Nasdaq's active role in modernizing regulatory reporting in Europe and its tender offers reflecting strong interest in its debt securities underscore its proactive approach to market challenges and investor engagement. Meanwhile, the overall market was down 2.5%, highlighting Nasdaq's relative strength amid broader market pressures. Unlock comprehensive insights into our analysis of Nasdaq stock here. Over the past five years, Nasdaq (NasdaqGS:NDAQ) has delivered a total shareholder return of 150.02%. During this period, several factors have shaped Nasdaq's strong performance. Partnerships, such as the expanded alliance with Novobanco and the regulatory reporting deal with Austrian Reporting Services, reinforced Nasdaq's foothold in digital technologies and compliance solutions. Additionally, financial results for the year 2024 showed robust revenue of US$7.40 billion and a net income increase to US$1.12 billion, underscoring solid operational execution. The company's strategic dividend announcements and comprehensive earnings growth also contributed to enhancing investor confidence, along with efforts to manage debt via tender offers for outstanding notes. Despite being seen as expensive compared to industry P/E ratios, Nasdaq's initiatives in technology enhancement, exemplified by plans to launch the PureStream trading solution, indicated its commitment to evolving market demands. These actions may have bolstered the company's relative strength, outperforming the US Capital Markets industry over the past year. Analyze Nasdaq's fair value against its market price in our detailed valuation report—access it here. Analyze the downside risks for Nasdaq and understand their potential impact—click to learn more. Hold shares in Nasdaq? Setup your portfolio in Simply Wall St to seamlessly track your investments and receive personalized updates on your portfolio's performance. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqGS:NDAQ. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
