Feedzai, which claims to be the world’s first RiskOps platform for financial risk management, has partnered with Portuguese bank Novo Banco S.A. (Novobanco) “to further enhance the bank’s customer experience, improve its digital journey and provide best in class fraud protection.”
Novobanco is a domestic Portuguese universal bank that “provides the full spectrum of financial products to both the corporate and retail segments.”
Novobanco has 1.5 million clients and €43.8bn of assets, “being the 4th largest bank in its domestic market with a market share of 9.6%.”
Its customer-centricity culture is “set to continuously enhance the experience of its clients, offering them an omnichannel experience, based on transparent, simple and safe products and services.”
This ongoing program of investment will see Novobanco partner with Feedzai “to implement its market leading Digital Trust (DT) and Transaction Fraud for Banking (TFB) solutions.”
The two solutions work together “to provide a deeper analysis of customer biometrics and behavior, network, device and threat data in real-time to better identify legitimate customers and improve fraud blocking before it happens.”
Feedzai’s human-centered AI will also “help Novobanco apply fair treatment across its customer portfolio by proactively addressing customer bias and improving their overall experience.”
As a result, Novobanco will be able “to optimize its solutions to all customers in order to improve overall trust, satisfaction and engagement levels.”
Nuno Pires, Global Head of Sales at Feedzai said:
“We’re proud that Novobanco has selected Feedzai as a trusted partner. The Digital Trust and Transaction Fraud for Banking solutions which are part of our RiskOps platform will empower Novobanco to further enhance its fantastic service whilst providing the highest level of financial security for its customers.”
Duarte Pupo Correia, EVP, Head of Digital Channels at Novo Banco said:
“As a customer centric Bank, at Novobanco we are committed to continuously improving and providing the most intuitive, appealing and secure experience for all our customers. As we continue to invest in our digital ecosystem, implementing Feedzai’s best-in-class solutions will ensure we can raise the bar to a higher level.”
As noted in the update, Feedzai claims it is “the world’s first RiskOps platform, protecting people and payments with a comprehensive suite of AI-based solutions designed to stop fraud and financial crime.”
“Trusted” by some of the world’s financial organizations globally to safeguard trillions of dollars of transactions and manage risk “while improving their customers’ trust.
Feedzai is a Series D company and has raised $282M to date.”
With a valuation of +$1.5B, the company’s technology “protects 900 million people in 190 countries.”