A new partnership between North American Bancard (NAB) and Feedzai will put machine learning to work to help merchants better manage risk and fight fraud. The two companies have collaborated to build a set of customized fraud prevention tools that leverage real-time data insights to identify suspicious patterns and transaction anomalies that often are the tell-tale signs of criminal activity online.

Saurabh Bajaj, Feedzai Head of Product, emphasized the importance of real-time technology in the fight against emergent fraud threats. He pointed out that while consumers and merchants alike have benefitted from the rise of digital technologies in e-commerce, these gains have come at a cost.

“Digital transformation across industries has been great for consumers, but also for increasingly sophisticated fraudsters looking for new ways to commit fraud,” Bajaj said. “That’s why we need a real-time AI engine that can secure transactions, using intelligence across all business channels.”

NAB Chief Risk Officer Jay Nadarajah highlighted the importance of maintaining a quality customer experience while improving the security of that experience. “Facilitating safe, secure, and fast transactions while eliminating friction in the underwriting and risk processes through technological advancements is at the core of what we’re trying to offer to merchants,” Nadarajah said. “These technological advancements drive efficiencies and speed in identifying fraudulent activity.”

Founded in 1992, North American Bancard is a payments technology company with more than 350,000 business customers in the U.S. and Canada. The Troy, Michigan-based firm offers payment processing and acceptance solutions including free EMV and NFC hardware, no long-term contracts, and acceptance of most major credit cards and PayPal at rates starting at 0.29%.

Feedzai demonstrated its Fraud Prevention platform at FinovateEurope 2014. Earlier this month, the company announced a partnership with Raiffeisen Bank International to use advanced machine learning to help the European bank fight fraud. In March, Aite Group named Feedzai Best in Class in the vendor market for fraud and anti-money laundering solutions.

With more than $76 million in funding, Feedzai includes Data Collective (DCVC), Sapphire Ventures, Citi Ventures, and Oak HC/FT among its investors. Nuno Sebastiao is CEO of the company, which is headquartered in San Mateo, California, and was founded in 2011.

Anti-fraud solution provider Feedzai has collaborated with DataRobot to enable FIs, merchants, and processors to add DataRobot’s machine learning models to the Feedzai platform. The integration, made possible via the OpenML platform Feedzai announced last year, will enable FIs to automate the creation of advanced machine learning models for fraud detection and AML, providing a higher level of defense against financial crime.

“This integration with DataRobot enables us to further open the Feedzai platform to powerful machine learning algorithms into our platform to offer even more of the world’s advanced AI tools to our customers,” Feedzai SVP of Product Saurabh Bajaj said. “This is how we are democratizing AI for our customers.”

The integration also gives data scientists the ability to conduct data cleaning and analysis, feature engineering, and model training and testing, all within the Feedzai platform. Data scientists can also import external models to the platform, as well as take advantage of Feedzai’s other tools, including its automated rules engine, advanced link analysis, Risk Ledger, and Genome to enhance fraud detection further.

“Our partnership with Feedzai gives banks and other financial institutions the flexibility to use the machine learning technology and tools that best fit their needs,” SVP of Business Development for DataRobot Seann Gardiner said. “The combination of Feedzai’s impressive threat detection technology and our world-class automated machine learning capabilities create a best-of-breed solution to fight fraud with unprecedented accuracy.”

With $5 billion in transactions scored daily, Feedzai protects 10 of the largest 25 global banks from fraud. Last month, the company announced a strategic partnership with Citi, which will feature the integration of Feedzai’s anti-fraud technology with Citi’s Treasury and Trade Solutions. Feedzai also unveiled its latest financial crime prevention solution, Risk Ledger, in December. Risk Ledger leverages the millions of transactions processed via its platform to provide a more comprehensive anti-fraud solution.

Founded in 2009 and based in San Francisco, California, Feedzai demonstrated its fraud prevention technology at FinovateEurope 2014. The company has raised $76.1 million in funding, and includes Data Collective DCVC, Sapphire Ventures, Citi Ventures, and Oak HC/FT among its investors.

Leveraging machine learning and secure, federated data from its customer base and third-party vendors, Feedzai announced this week the release of its latest financial crime prevention solution, Risk Ledger.

Feedzai’s Risk Ledger uses the 30 million transactions processed by its system every day – including more than 100 different payment methods – to deliver a more accurate and comprehensive anti-fraud solution compared to siloed data offerings.  By processing such a wide range and number of data elements (i.e., cards, IPs, merchants, emails) along the full cycle of the customer journey (from onboarding to compliance), Risk Ledger provides anti-fraud and anti-money laundering defense for all members of the payment process from issuers and acquirers to merchants and networks.

“Our goal has always been to make it harder and harder for fraudsters to hide, while making it easier for businesses to serve their loyal customers without friction,” Feedzai Head of Product Saurabh Bajaj explained. “As our customer base across the world continues to grow, the network effect of all of that data will only make Risk Ledger stronger.”

Risk Ledger is the latest solution from Feedzai designed to help fight financial crime. In October, the company unveiled Feedzai Genome, which enables financial fraud investigators to use link analysis graph technology to visualize and identify complex financial crime patterns and take action in real time. Powered by Feedzai’s advanced AI, Feedzai Genome learns over time, keeping pace with evolving AML and fraud typologies.

“Fraud patterns are getting more complex as criminals continue to get more sophisticated to avoid detection,” Feedzai CTO and co-founder Paulo Marques said when the technology was introduced. “Feedzai Genome gives our customers a full picture of financial crime so that they can fight it more effectively.”

With $5 billion in transactions scored daily, Feedzai serves ten of the largest 25 banks in the world, protecting 200 million people against cyberfraud. The company has raised $82 million in funding and includes Data Collective DCVC, Sapphire Ventures, Citi Ventures, and Oak HC/FT among its investors.

Earlier this year, Feedzai introduced its AutoML technology, leveraging machine learning to automate many of the most time-consuming processes for data scientists fighting cybercrime. In July, the company teamed up with Credorax, an e-commerce focused commercial bank, to help merchants better defend themselves against fraud.

Named to the Inc. 5,000 Europe roster for 2018 this summer and honored with a spot on the Forbes Fintech 50 at the beginning of the year, Feedzai demonstrated its fraud prevention technology at FinovateEurope 2014. The company was founded in 2008 and is based in San Mateo, California.