Feedzai

FeedZai is a European Big Data Startup that uses machine learning and artificial intelligence to detect and combat fraud in commerce transactions in real time. With the many data breaches that have occurred recently, where vast amounts of credit card details have been stolen, FeedZai targets an area that costs organisations a lot of money. In the omni-channel world that we live in, where consumers seamlessly buy products across digital and physical channels using different technologies, it has become difficult for organisations to detect fraudulent actions.

FeedZai claims that they are capable of detecting fraud 10 days earlier than other solutions, with more accuracy and lower false rates. Using a combination of predictive models and analysing consumer behaviour, they create profiles for customer, location, merchant and POS devices, including a three-year history of all data and updating all profiles after each transaction. Using such profiles they want to understand how consumers behave, online and offline, in order to protect them from fraud. Next to that they help service providers with continuous merchant underwriting using these profiles and can better predict unfunded chargebacks or merchant insolvency.

FeedZai was founded in 2010 by Nuno Sebastião, a former product manager for the ESA, Pedro Bizarro, a former adjunct visiting professor at Carnegie Mellon University, and Paulo Marques, also a former adjunct professor at Carnegie Mellon University. Curre...

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FeedZai is a European Big Data Startup that uses machine learning and artificial intelligence to detect and combat fraud in commerce transactions in real time. With the many data breaches that have occurred recently, where vast amounts of credit card details have been stolen, FeedZai targets an area that costs organisations a lot of money. In the omni-channel world that we live in, where consumers seamlessly buy products across digital and physical channels using different technologies, it has become difficult for organisations to detect fraudulent actions.

FeedZai claims that they are capable of detecting fraud 10 days earlier than other solutions, with more accuracy and lower false rates. Using a combination of predictive models and analysing consumer behaviour, they create profiles for customer, location, merchant and POS devices, including a three-year history of all data and updating all profiles after each transaction. Using such profiles they want to understand how consumers behave, online and offline, in order to protect them from fraud. Next to that they help service providers with continuous merchant underwriting using these profiles and can better predict unfunded chargebacks or merchant insolvency.

FeedZai was founded in 2010 by Nuno Sebastião, a former product manager for the ESA, Pedro Bizarro, a former adjunct visiting professor at Carnegie Mellon University, and Paulo Marques, also a former adjunct professor at Carnegie Mellon University. Currently they have received $ 4.5 million in funding, from some well-known investors like, among others, SAP Ventures, Data Collective and Novabase Capital. Gartner awarded them the Cool Vendor Award in

They sell their product under a SaaS licence model, where they charge customer on a transaction volume basis. Their product does not come cheap, but they already have some major customers like Coca-Cola, Vodafone or SIBs Payment Solutions.

FeedZai have access to the payment data of the world’s largest financial institutions and oversee $229 billion, which is more than PayPal. Competition comes from other startups, since the fraud detection business is a multi-hundred billion-dollar industry. With their claim that they can detect fraud 80-90% of all fraud, far above the standard 50%, they have the potential to really make a change and help protect customers and organisations.

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Website     https://www.feedzai.com/