Latest news with #NunoSebastiao
Yahoo
23-04-2025
- Business
- Yahoo
Global Financial Crime Prevention Leader Feedzai Acquires Demyst to Break Down Data Silos and Accelerate Risk Decisions
NEW YORK, SYDNEY and LISBON, Portugal , April 23, 2025 /PRNewswire/ -- Feedzai, the global leader in fraud and financial crime prevention, today announced that it has acquired Demyst, including its Zonic data workflow orchestration platform, intellectual property, and sophisticated data-integration capabilities. This strategic move is part of Feedzai's vision to unify data orchestration and risk management into a single platform, providing financial institutions with the real-time data, analytics, and trusted artificial intelligence they need to make the best possible risk decisions "There is no shortage of data in our industry — the trick is how to access the right data as quickly as possible so that you can accelerate risk decisions with the fewest consumer friction points," said Nuno Sebastiao, Feedzai CEO and co-founder. "Demyst is a first mover and leader in accessing necessary data — internal or external — at the critical moment for any part of the user journey. Paired with Feedzai's market-leading AI, this ensures every data point is fully utilised to drive smarter and faster decisions. More broadly, this acquisition marks a pivotal moment in continuing Feedzai's evolution from a data consumer to a data provider." Together, Feedzai and Demyst deliver: A unified AI platform that seamlessly integrates data at speed via orchestration with robust fraud and financial crime prevention measures. Strengthened RiskOps lifecycle with enhanced account opening capabilities, ensuring a consistent end-to-end customer view from initial onboarding through ongoing transactions. Contextual intelligence to combine identity, credit, network, financial history, behavioral insights, and others for precise fraud prediction and prevention. Better customer experiences with faster onboarding, fewer friction points, and reduced false positives boost customer satisfaction and retention. Improved risk insights by using the right data at the right time, including shared insights from a diverse global community of banks, payment providers, and networks on fraud and financial crime. Operational efficiency for non-technical teams (product managers, business analysts) with automation to autonomously build and manage data workflows, significantly reducing IT dependency. "External data is the next frontier of business impact for financial institutions, yet it is notoriously complex, involving a labyrinth of sources for KYC/AML, identity, fraud, credit checks, and compliance," said Mark Hookey, CEO of Demyst, who will remain with Feedzai along with key members of the Demyst team. "We're thrilled to join Feedzai to bring AI and data together at scale for our customers. Together we are building the most advanced solution for customer onboarding, fraud prevention, and risk management.""An automated and efficient bank account opening process is both the first time a bank gets to know the customer as well as the first line of defense against fraud and financial crime," said Dr. Ashish Kakar, Research Financial Insights Director, IDC Asia/Pacific. "The process has to be seamless to ensure a lasting customer relationship, and at the same time, by building trust from the start, banks not only enhance customer experience, but also strengthen the integrity of the financial system. Feedzai's addition of automated data orchestration to its RiskOps Platform is a powerful combination that will benefit all customers. This should also help the regulators' cause of reducing mule accounts and scams." Feedzai was advised in this transaction by the law firms Cooley and Garrigues. For more information on Feedzai and Demyst, users can visit: About Feedzai Feedzai is the world's first end-to-end financial crime prevention platform, protecting people and payments with AI-native solutions that stop fraud and financial crime. Leading financial institutions trust Feedzai to manage critical risk and compliance processes, safeguarding trillions of dollars of transactions while improving the customer experience and protecting the privacy of everyday users. For more information, users can visit Contact:Feedzaipr@ Photo: View original content to download multimedia: SOURCE Feedzai Sign in to access your portfolio
Yahoo
06-02-2025
- Business
- Yahoo
Backbase and Feedzai Partnership Integrates Financial Crime Prevention into Backbase Platform
SAN MATEO, Calif., Feb. 06, 2025 (GLOBE NEWSWIRE) -- Backbase, a provider of engagement banking solutions, announces a strategic partnership with Feedzai, a company providing AI-native fraud prevention solutions, aiming to support financial institutions in addressing digital fraud while maintaining operational efficiency in customer interactions. The collaboration integrates Feedzai's Digital Trust solutions with Backbase's Engagement Banking Platform, offering financial institutions tools designed to enhance fraud prevention, support secure banking environments, and optimize digital customer experiences. "By combining Backbase's engagement banking expertise with Feedzai's advanced security capabilities, we're giving financial institutions the complete package – superior customer experience and intelligent fraud prevention in one integrated platform,' said Jouk Pleiter CEO & Founder at Backbase. 'Together, we're setting a new standard for how banks can build trusted digital relationships with their customers." The partnership offers financial institutions the following benefits: Proactive fraud prevention with real-time AI-powered behavioral analysis across all digital channels. Operational efficiency with AI-powered risk assessment designed to reduce false positives and associated costs. Seamless integration with the Backbase Engagement Banking Platform and its suite of products, providing direct access to Feedzai's security capabilities. The integration of Feedzai's Digital Trust platform—which monitors user behavior, device integrity, and potential threats in real time—with Backbase's Engagement Banking Platform aims to support secure and efficient digital banking experiences. Backbase facilitates customer interactions, while Feedzai's security framework operates in the background to help safeguard digital transactions without disrupting the user experience. 'As the financial services industry evolves, security can no longer be an afterthought — it must be woven into the very fabric of the customer experience,' said Nuno Sebastiao, CEO and Co-Founder at Feedzai. 'By partnering with Backbase, we're empowering financial institutions to deliver a unified, seamless journey that not only protects customers from fraud, but also ensures they feel valued, understood, and safe.' About FeedzaiFeedzai provides an end-to-end financial crime prevention platform, utilizing AI-driven solutions to support the detection and prevention of fraud and financial crime. Financial institutions use Feedzai's technology to manage risk and compliance processes, with the platform designed to help safeguard transactions while supporting customer privacy and experience. For more information, users can visit About BackbaseBackbase provides the Engagement Banking Platform, a composable solution designed to support banks in their digital transformation efforts by modernizing key customer journeys. The platform helps streamline processes across onboarding, servicing, lending, and investing, aiming to enhance both customer and employee experiences. It is pre-integrated with core banking systems and fintech solutions to support scalability and operational efficiency. Industry analysts Forrester, Gartner, Celent, Omdia and IDC continuously recognize Backbase's for its role in the engagement banking sector. The Backbase Engagement Banking Platform is used by over 150 financial institutions worldwide — including AIB, Banorte, Barclays, BIAT, Bank of the Philippine Islands, BDO, BNP Paribas, Banque Saudi Fransi, BRD, Citibank, Discovery Bank, First National Bank, HDFC, Ila Bank, KeyBank, Lloyds Banking Group, NatWest, Navy Federal Credit Union, OTP Group, PostFinance, Raiffeisen, Standard Bank, Saudi National Bank, Société Générale, Truist, and TPBank. Backbase is a private fintech company, founded in 2003 in Amsterdam (Global HQ), with regional offices in Atlanta (Americas HQ), Cardiff, Dubai, Hyderabad, Kraków, London, Mexico City, Singapore (Asia HQ), Sydney, and Toronto. Users can visit for more. Contacts Austin PapaioannouBackbasepress-relations@
