Feedzai, a frontrunner in the application of AI to combat financial crime, has joined forces with UK Finance for the second year running on a report.
Their collaboration will bring to light the Annual Fraud Report 2024, a comprehensive analysis aimed at battling fraud and safeguarding consumers within the UK’s banking and finance landscape.
Feedzai’s expertise in AI and financial crime prevention, combined with invaluable data from UK Finance’s extensive network, sets the stage for an insightful exploration into fraud trends affecting the UK. The report promises to deliver a detailed assessment of fraud cases, quantifying losses and shining a spotlight on emerging threats. This partnership underscores Feedzai’s standing as a committed ally in the fight against financial crime, working closely with leading industry bodies.
Pedro Barata, Chief Product Officer at Feedzai, emphasised the significance of this collaboration, stating, “We are pleased to be trusted by UK Finance once again to be their partner in delivering the Annual Fraud Report, which underscores our commitment to working at the forefront of this space alongside the most reputable partners and trade bodies. With financial crime evolving every single second, minute, and hour of the day, the report is a valued resource for all professionals in the banking and financial services industry looking to obtain a 360-degree view of the fraud environment.”
Echoing this sentiment, Lee Hopley, Director of Economic Insight and Research at UK Finance, highlighted the report’s importance in the ongoing battle against financial crime. “Our Annual Fraud report highlights the ever-growing issue of financial fraud, and we are looking forward to continuing our partnership with Feedzai for a second year. Our Annual Fraud Report is a key marker in evaluating the ongoing fight against financial crime and Feedzai’s industry knowledge and additional insight will be a valuable asset to the report, making it a valuable resource for the industry.”
This year’s report is more than just an annual update; it’s a testament to the evolving nature of financial crime and the relentless efforts of industry leaders to stay ahead of perpetrators.
Through the combined forces of Feedzai’s AI-driven insights and UK Finance’s authoritative data, the Annual Fraud Report 2024 aims to equip financial professionals with the knowledge needed to protect consumers and the integrity of the financial system.
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