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Feedzai

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Feedzai is a data science company that detects fraud in omnichannel commerce.[1] The company uses real-time, machine-based learning to analyze big data to identify fraudulent payment transactions and minimize risk in the financial industry.

Feedzai enables businesses to accurately analyze information to keep their customers’ data and transactions safe at any place in real-time. Customers use Feedzai’s software to reduce risks associated with banking and shopping, whether it’s in person, online or via mobile devices, by detecting fraud through deep historical and behavioral analysis of the organization’s data. According to Forbes, in Feb. 2016, Feedzai handles $1B per day in total payments volume.[2]

History

Feedzai is founded by a team of aerospace engineers and data scientists [3] including Nuno Sebastiao, Pedro Bizarro and Paulo Marques. Feedzai is the first start-up to be created as a result of a program[4] from Carnegie Mellon University to create new knowledge in the areas of ICT from Portugal through research and education.

Feedzai supports its global customer based from multiple offices, including Silicon Valley,[5] New York City,[6] London,[7] Coimbra, Porto and Lisbon.[8]

Recently, Entrepreneur Magazine named Feedzai one of the seven top startup companies spearheading the big data game by using data in innovative ways .[9] The company and its services have also been recognized by Forrester as a company on the next wave of the future of machine learning.[10] Gartner identified Feedzai as a cool vendor,[11] and for online fraud detection[12] and operational intelligence platforms.[13]

Funding

Feedzai is backed by OAK HC/FT, Sapphire Ventures (formerly SAP Ventures), Capital One Ventures, Data Collective and other international investors. In May 2015, the company raised a total of $17.5 million in Series B financing led by Oak HC/FT along with existing investors: Sapphire Ventures and Espirito Santo Venture.[14]

Oak HC/FT’s General Partner, Patricia Kemp,[15] and Venture Partner Jonathan Weiner,[16] co-founder of Money20/20 and former Head of Global Business Development for Google Wallet and Payments, serve on Feedzai’s board of directors.

Customers and Partners

Companies located in Europe, the Americas and Africa all over the world use Feedzai’s anti-fraud machine learning technology to keep commerce moving safely.[17] Customers also consist of payment networks, processors, banks, retailers, and large financial institutions including First Data,[18] the world’s largest payment processor that uses machine learning. Partnerships include those with Emailage,[19] Socure,[20] and Azul Systems.[21]

References

  1. ^ "Feedzai Launches Omnichannel Fraud Solution in U.S." Card Not Present. Card Not Present. Retrieved 10 June 2014.
  2. ^ Groenfeldt, Tom. "Feedzai Stops Financial Fraud With Machine Learning". Forbes.com. Forbes. Retrieved 16 Feb 2016.
  3. ^ Groenfeldt, Tom. "Feedzai Brings Machine Learning And Data Science To Payment Fraud". Forbes.com. Forbes. Retrieved 3 Feb 2014.
  4. ^ "First Start-up Launched Within the Partnership". CMUPortugal.org. CMU Portugal. Retrieved Jan 2011. {{cite web}}: Check date values in: |accessdate= (help)
  5. ^ "What Feedzai Learned in the SAP Startup Focus Program". sap.cioreview.com. SAP CIO Review.
  6. ^ Dautner, Mike. "Feedzai Expected to Pass $800 Million in Daily Payments Volume in 2015". paymentweek.com. paymentweek. Retrieved 1 Oct 2015.
  7. ^ "Feedzai opens in UK". finextra.com. Finextra. Retrieved 15 Mar 2016.
  8. ^ Almeida, Maria. "How to Raise Money With American VCs". lis-summit.com. Lisbon Investment Summit. Retrieved 2 Jun 2015.
  9. ^ Patel, Sujan. "7 Startups That Are Owning the Data Game". Entrepreneur.com. Entrepreneur.com. Retrieved 13 Aug 2015.
  10. ^ Cser, Andras. "The Forrester Wave™: Enterprise Fraud Management, Q1 2016". Forrester.com. Forrester. Retrieved 27 Jan 2016.
  11. ^ Gassman, Bill. "Cool Vendors in Analytics and Business Intelligence, 2011". Gartner.com. Gartner. Retrieved 21 Apr 2011.
  12. ^ Litan, Avivah. "Market Guide for Online Fraud Detection". Gartner.com. Gartner. Retrieved 27 Apr 2015.
  13. ^ Schulte, Roy. "Market Guide for Operational Intelligence Platforms". Gartner.com. Gartner. Retrieved 28 May 2015.
  14. ^ Passy, Jacob. "Fraud Detection Tech Startup Feedzai Receives $17.5 Million". AmericanBanker.com. American Banker. Retrieved 18 Mar 2015.
  15. ^ "Patricia Kemp, General Partner". OakHCFT.com. Oak HC/FT.
  16. ^ "Jonathan Weiner, Venture Partner". OakHCFT.com. Oak HC/FT.
  17. ^ "European anti-fraud specialist Feedzai launches in the US, promises safer payments through big data". Pando.
  18. ^ "Rise Of The Machines (In Fighting Fraud)". PYMNTS.com. PYMNTS.com. Retrieved 17 Feb 2016.
  19. ^ Riley, Duncan. "Feedzai partners with Emailage for improved SaaS fraud protection". SiliconAngle.com. Silicon Angle. Retrieved 14 Oct 2015.
  20. ^ "Feedzai partners with Socure, offering joint fraud prevention products for FIs". MobilePaymentsToday.com. Mobile Payments Today. Retrieved 10 Sep 2015.
  21. ^ "Feedzai and Azul Systems deploy fraud detection solution". ThePaypers.com. The Paypers. Retrieved 25 Jun 2015.
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