Feedzai has launched new tools to help banks and financial institutions
offer account opening solutions that are more customer-centric, with
unparalleled fraud prevention. The machine learning-enabled account
opening decision-making engine increases operational efficiency,
increases top-line revenue, and allows banks to acquire more customers
in real time with less friction.
Besides centralizing clients’ fraud management systems, Feedzai’s
Account Opening solution provides machine learning, tailored workflows,
as well as third-party integration and data enrichment to help banks
offer that frictionless experience that is also scalable, and keeps both
fraud rates and false positive rates low. Feedzai’s Account Opening
solution now offers the following capabilities:
Powerful machine learning tools that enable companies to boost
operational efficiency, make better decisions, and detect fraud
allows data scientists to choose how they want to work, either
leveraging proprietary and external algorithms entirely within the
Feedzai Platform, or using external tools to build models that are
then imported to Feedzai’s Platform.
shortens the traditional data science workflow by automating
time-consuming tasks and enabling banks to reduce the time to
build production-ready models by weeks.
quickly identifies and lets users easily act on fraud patterns,
including those associated with synthetic identity fraud, that
would have been difficult or impossible to uncover before.
Tailored workflows based on risk assessment to reduce friction,
creating a more customer-centric experience for applicants
The updated solution provides tailored workflows that leverage
customized user journeys and trigger streamlined application
processes based on applicants’ risk scores, creating personalized
onboarding experiences for applicants.
Step-up authentication is seamlessly integrated and extended to
only applicants who must undergo them, reducing friction and
increasing customer acquisition.
- The updated solution provides tailored workflows that leverage
3rd party integration and data enrichment that gives users a
holistic view, enabling banks to onboard legitimate customers and
increase their lifetime value
Feedzai’s third-party integration and data enrichers provide a
holistic, full-picture view of an applicant, so banks no longer
have to piece together the siloed views they often get from other
Banks can now use their CRM data to gain as much insight as
possible into their applicants. They can also use cross-industry
consortium data from Feedzai’s Risk
Ledger to gain more visibility into fraudulent activity to
ensure they aren’t acquiring fraudulent customers.
- Feedzai’s third-party integration and data enrichers provide a
“As consumers demand to open accounts nearly instantly from their
smartphones, many institutions are struggling to offer that ability in a
way that’s both safe and scalable without the burdensome identification
documents,” says Saurabh Bajaj, SVP, Product at Feedzai. “That’s what
drove us to create new tools that specifically allow for this global
digital transformation while keeping consumer experience and safety as
the driving mission of our artificial intelligence technology.”
To learn more about Feedzai’s account opening solution and the
technology that makes all of this possible, please click
Feedzai is the market leader in fighting fraud with AI. We’re coding the
future of commerce with today’s most advanced risk management platform
powered by big data and machine learning. Founded and developed by data
scientists and aerospace engineers, Feedzai has one mission: to make
banking and commerce safe. The world’s largest banks, processors, and
retailers use Feedzai’s fraud prevention and anti-money laundering
products to manage risk, while improving customer experience.