Press release

Feedzai Adds Powerful New Dimensions to Customer-Centric Account Opening Solution

Sponsored by Businesswire

Feedzai has launched new tools to help banks and financial institutions
offer account opening solutions that are more customer-centric, with
unparalleled fraud prevention. The machine learning-enabled account
opening decision-making engine increases operational efficiency,
increases top-line revenue, and allows banks to acquire more customers
in real time with less friction.

Besides centralizing clients’ fraud management systems, Feedzai’s
Account Opening solution provides machine learning, tailored workflows,
as well as third-party integration and data enrichment to help banks
offer that frictionless experience that is also scalable, and keeps both
fraud rates and false positive rates low. Feedzai’s Account Opening
solution now offers the following capabilities:

  • Powerful machine learning tools that enable companies to boost
    operational efficiency, make better decisions, and detect fraud

    • OpenML
      allows data scientists to choose how they want to work, either
      leveraging proprietary and external algorithms entirely within the
      Feedzai Platform, or using external tools to build models that are
      then imported to Feedzai’s Platform.
    • AutoML
      shortens the traditional data science workflow by automating
      time-consuming tasks and enabling banks to reduce the time to
      build production-ready models by weeks.
    • Genome
      quickly identifies and lets users easily act on fraud patterns,
      including those associated with synthetic identity fraud, that
      would have been difficult or impossible to uncover before.
  • Tailored workflows based on risk assessment to reduce friction,
    creating a more customer-centric experience for applicants

    • The updated solution provides tailored workflows that leverage
      customized user journeys and trigger streamlined application
      processes based on applicants’ risk scores, creating personalized
      onboarding experiences for applicants.
    • Step-up authentication is seamlessly integrated and extended to
      only applicants who must undergo them, reducing friction and
      increasing customer acquisition.
  • 3rd party integration and data enrichment that gives users a
    holistic view, enabling banks to onboard legitimate customers and
    increase their lifetime value

    • Feedzai’s third-party integration and data enrichers provide a
      holistic, full-picture view of an applicant, so banks no longer
      have to piece together the siloed views they often get from other
      third-party integrations.
    • Banks can now use their CRM data to gain as much insight as
      possible into their applicants. They can also use cross-industry
      consortium data from Feedzai’s Risk
      to gain more visibility into fraudulent activity to
      ensure they aren’t acquiring fraudulent customers.

“As consumers demand to open accounts nearly instantly from their
smartphones, many institutions are struggling to offer that ability in a
way that’s both safe and scalable without the burdensome identification
documents,” says Saurabh Bajaj, SVP, Product at Feedzai. “That’s what
drove us to create new tools that specifically allow for this global
digital transformation while keeping consumer experience and safety as
the driving mission of our artificial intelligence technology.”

To learn more about Feedzai’s account opening solution and the
technology that makes all of this possible, please click

About Feedzai

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 manage risk, while improving customer experience.