CEO Series

For Feedzai’s Sebastiao, Space Work Turns To Fraud Detection

In January, Feedzai launched in the U.S. a fraud-prevention solution available for omnichannel commerce. Founded by aerospace engineers and data scientists, the company provides a means by which merchants, processors and other organizations may use Big Data to anticipate and detect fraud earlier.

In a recent podcast interview with Market Platform Dynamics CEO Karen Webster, company CEO Nuno Sebastiao described the company’s system, created originally in Europe, as one that uses a combination of real time, machine-learning technologies to essentially help the payment ecosystems of networks, banks and retailers.

Fraudsters today use a combination of online, physical and other entities to perpetrate fraud, and Feedzai’s system deals with all channels where fraud could impact commerce, he said.

(Jump to: 2:23)”By having this omnichannel focus, we’re taking data from different layers and different actors in the ecosystem,” Sebastiao said, noting that Feedzai also ensures it keep the data private.

Feedzai’s system can identify patterns across the various actors and create mutual benefits for all of the them, he said. With its machine-learning approaches, Feedzai’s system can watch the trail of a fraudster, what the different entities involved are, and how the events happened, Sebastiao said. And this helps to understand and predict where fraud is most likely to happen.

The company’s system also “retrains,” or learns, based on what it has learned.

To hear more from Sebastiao about how Feedzai works and what the company’s plans are in the U.S, listen to the full podcast by clicking below.

 

For Feedzai’s Sebastiao, Space Work Turns To Fraud Detection

 

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Latest Insights: 

The Payments 2022 Study: Building A High-Performance Payments Team For Fraud Detection, a PYMNTS collaboration with Stripe, examines how digital platforms of all sectors and sizes plan to develop their anti-fraud teams as part of their their broader growth and development strategies. Drawing from an extensive survey from approximately 250 payments heads at digital platforms in the U.S. and abroad, our study analyzes how poor anti-fraud capabilities can harm platforms’ long-term growth strategies, and how they can build high-performing teams to tackle these challenges.

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