Credorax and Feedzai Unleash AI to Counter Merchant Fraud
Lisbon, Portugal and San Francisco – July 26, 2018 – Credorax, a leading technology company turned fully licensed commercial bank, and Feedzai, a leader in Artificial intelligence (AI) for real-time risk management across banking and commerce, announced today a partnership to protect Credorax merchants against fraud. The collaboration couples Feedzai’s advanced fraud prevention platform with Credorax’s merchant acquiring technology and services, employing machine learning to stay ahead of an ever more complex and dangerous e-commerce landscape, and allowing consumers even more access to frictionless transactions without giving up security.
“Credorax is proud to partner with Feedzai to market AI solutions that better safeguard merchants and their customers,” said Igal Rotem, Chief Executive Officer of Credorax. “We continue to dedicate significant resources to help solve complex issues and are confident that, working together, we will fuel growth in the digital economy.”
Merchants must contend with burgeoning data from more channels than ever. Fraudsters are getting increasingly sophisticated and aggressive in their attacks. Banks, merchants and customers can become targets at any point – from merchant onboarding through the entire e-commerce transaction and payments lifecycle.
The machine learning technology from Feedzai and Credorax revolutionizes the fight against fraud for merchants, while assuring loyal customers can transact with reduced friction and more security. It arms merchants with better defenses by sifting massive data to uncover fraud while minimizing declines from false positives. The combined solution reduces risk, reduces manpower costs, boosts revenue and improves customer experience.
“Feedzai and Credorax will provide the best solution for merchants that need a powerful risk management and fraud prevention platform to protect their customers in a seamless way,” said Nuno Sebastiao, Chief Executive Officer of Feedzai. “With Feedzai technology backing Credorax, we are helping to keep payments safe, while ensuring real-time processing — which is especially important in a world where digital means now.”
Industry luminary and Apple Co-founder Steve Wozniak, Goldman Sachs Intl. Chairman José Barroso, and other thought leaders joined Credorax and Feedzai executives on the stage at the recent Money20/20 Europe, speaking to the key role of AI in modern commerce. Video of the session with Feedzai and Credorax can be found at: https://feedzai.com/frontiers/
Founded in 2008, Credorax is one of the first technology companies in the world to have evolved into a licensed commercial bank that specializes in merchant acquiring, as well as the first bank developed specifically for the e-commerce sector. It holds merchant acquiring banking licenses in 32 countries across Europe. For more information, visit www.credorax.com.
Feedzai is the market leader in fighting fraud with AI. We’re coding the future of commerce with today’s most advanced risk management platform powered by big data and machine learning. Founded and developed by data scientists and aerospace engineers, Feedzai has one mission: to make banking and commerce safe. The world’s largest banks, processors, and retailers use Feedzai’s fraud prevention and anti-money laundering products to minimize risk, while optimizing customer experience. See more at www.Feedzai.com.