Feedzai has partnered with Credorax and implemented its fraud prevention system to help protect merchants.
This collaboration will see Credorax access Feedzai’s machine learning anti-fraud system to protect merchants and also improve security for customers. Merchants will access better defence as the technology analyses data to uncover fraud and lowering minimizing declines.
Feedzai uses AI technology to combat fraud and is on a mission to improve the safety of commerce.
Its services help enrol customers for bank services such, providing KYC, OFAC, ID checks and account verification to accelerate customer acceptance. By performing identity verification and due diligence for customers, it claims to reduce operational costs with automated case management tools and compliance reporting.
Feedzai’s technology also assists in combating payment fraud by providing a PCI-compliant payment validation and transaction verification, which offers real-time risk scoring while reducing false declines.
Founded in 2008, Credorax is a smart acquiring and payment processing company which is used around the world and can support 100 different currencies. The company offers a selection of POS systems and tools to support the running of the business. Merchants can access analytics to monitor the business and approval rates, as well as reporting and currency management services.
Feedzai CEO Nuno Sebastiao said, “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.
“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.”
Earlier in the year, Feedzai expanded into the APAC region with the opening of an office in Hong Kong.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
