Feedzai Bulks Up Its Fraud Prevention Arsenal With Emailage
Now Email is Another Key Source of Data Used by Customers to Detect Fraud and Minimize Risks
SAN MATEO, Calif., Oct. 13, 2015 /PRNewswire/ -- Feedzai, a data science company that uses real-time, machine-based learning to analyze big data and minimize risk in the financial industry, announced a new partnership today with Emailage, an innovative fraud prevention solution that gives merchants the ability to identify and leverage transactional risk based on a user's email address. The two companies will provide their mutual clients with a machine learning solution that combines email risk assessment with fraud risk scoring to streamline transaction approvals and prevent fraud.
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Emailage's Risk Assessment Solution assesses the probability that an email address will be linked to either a legitimate customer or a fraudulent transaction, and scores the email address based on its level of risk. This score is generated through an analysis of Emailage's vast network of partners and customers, a database of known good and fraudulent emails in its Global Risk Assessment Network, and proprietary machine learning algorithms.
With the Emailage partnership, email becomes another key source of data that Feedzai's machine learning software uses to detect fraud and minimize risks. Additional data sources used by Feedzai include session clickstream, access frequency, malware signatures, and social biometrics (as previously announced with partner Socure), among others.
"Emailage is proud to partner with the fintech innovators at Feedzai. Like Emailage, Feedzai is changing the way organizations leverage large amounts of data and state-of- the-art, machine learning algorithms to prevent fraud," said Rei Carvalho, CEO of Emailage. "Our solutions complement one another extremely well and customers will benefit from this integration immediately, without any software or hardware to install."
"Fraudsters get smarter as quickly as data comes in, and we need to be smarter, more nimble, and as thorough as possible – which means acquiring and analyzing all sources of data," said Nuno Sebastiao, CEO of Feedzai. "Email is a global data identifier already collected in nearly every transaction, and adding this layer to our evolving and growing sources of data that we analyze and assess to mitigate the risk of fraud in real-time makes our algorithms smarter and keeps commerce safer."
Feedzai's Fraud Prevention That Learns™ technology combines big data and machine learning to arm customers with the tools they need to distinguish normal from abnormal behaviors, which can predict and prevent losses in real-time. The complex event processing software aggregates and processes high-volume streams of big data, including mobile and social data streams, to create deep learning profiles for each customer, merchant, product, location or POS device, with up to a three-year history of data behind it. This analysis and process helps acquirers, issuers, and retailers mitigate risk, guard every transaction, and preserve the customer experience.
Learn more about Feedzai at www.feedzai.com.
About Feedzai
Every day, the world produces petabytes of data, and Feedzai enables businesses to accurately analyze this information to keep their customers' data and transactions safe at any place in real-time. Customers use Feedzai's Fraud Prevention That Learns™ 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. Feedzai's customers, consisting of payment networks, processors, banks, and retailers have found that Feedzai's machine learning software detects fraud by as much as 10 days earlier than other solutions and exposes up to 60 percent more fraud cases with lower false alarms, which can save millions of dollars in fraud loss. Feedzai is a global company with US headquarters in San Mateo, and is backed by OAK HC/FT, Sapphire Ventures, Data Collective and other international investors. For additional information, visit http://www.feedzai.com.
About Emailage
Emailage provides intelligent fraud risk assessment using email address as the key data element to identify transactional risk and streamline transaction approvals. Our solution leverages its vast global consortium of data across all industries and utilizes powerful machine learning methods to interpret the key elements and characteristics of a fraudulent transaction. We are a scalable, enterprise SaaS technology that can be easily implemented and integrated through API or into existing fraud platforms to provide customized scoring rules that fit any workflow. Email addresses are universal data points that are already collected during most transactions. Put emails to work with Emailage to assess risk quickly, prevent fraud globally, and increase revenue. For more information, visit http://www.emailage.com.
SOURCE Feedzai
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