Feedzai has partnered with DataRobot to provide financial institutions with tools for enhanced financial crime detection.
Through this deal, banks, merchants and processors, among others, will access an integrated end-to-end omnichannel platform which has been designed specifically for identifying financial crime.
In addition to this, data scientist can use the platform to conduct the entire data science loop, including data cleaning and analysis, feature engineering, model training and testing. However, if they prefer, they can import an external model and leverage expertise from the data science ecosystem.
DataRobot is a machine learning platform which helps the banking industry to automate the creation of models which mitigate exposure to risks such as fraud and money laundering. It’s technology is capable of comparing algorithms, pre-processing steps, features, transformations, and tuning parameters to create the best models for companies.
Feedzai is an AI-powered anti-fraud solution which helps financial services to analyse data streams and uncover threats of fraud. By analysing data and fraud insights, it is able to build risk score to improve KYC, OFAC, ID checks and account verification.
DataRobot SVP of business development Seann Gardiner said, “Our partnership with Feedzai gives banks and other financial institutions the flexibility to use the machine learning technology and tools that best fit their needs.
“The combination of Feedzai’s impressive threat detection technology and our world-class automated machine learning capabilities create a best-of-breed solution to fight fraud with unprecedented accuracy.”
Last year, DataRobot secured $100m in a Series D round led by Meritech and Sapphire Ventures. The funds were raised to meet growing demands for its service and fuel the expansion of its global operations.
Copyright © 2018 RegTech Analyst
