Feedzai has released its risk ledger which will leverage federated data to find and prevent financial crime at scale.
This new solution will be able to detect previously hidden fraudsters by utilising its integrated data made up of its customer-base and third-party vendors. In doing this, it is able to implement quick and accurate detection with lower false positives.
Its solution is able to effectively prevent fraud and money-laundering attempts. Risk Ledger can neutralise repeat attacks up to five months earlier than other methods, the company claims.
The platform processes $5bn of transactions each day across over 200 countries and more than 100 different payment methods. By combining billions of online and offline data elements, such as IPs, cards and merchants, among others, and observed over the entire customer lifecycle, ensures a deeper insights solution.
Through the machine learning-powered platform, Feedzai is able to preserve important consortium insights while also adapting to individual needs.
All data on the platform is pseudonymized and pre-aggregated into profiles to ensure no sensitive information is shared.
Feedzai head of product Saurabh Bajaj said, “Our goal has always been to make it harder and harder for fraudsters to hide, while making it easier for businesses to serve their loyal customers without friction. As our customer base across the world continues to grow, the network effect of all of that data will only make Risk Ledger stronger.”
Earlier in the year, the company launched a new AI-powered solution which helps to find and visualise financial crime patterns via link analysis graph technology.
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