Feedzai Launches Developer Portal To Open Access To Fraud API

SAN MATEO, Calif., Oct. 31, 2014 /PRNewswire/ -- Feedzai, a data science company that uses real-time, machine-based learning to analyze big data to make commerce safe, today launched a developer portal opening access to its Feedzai Fraud API. Through the API, developers can enrich their software and applications to detect fraud in real-time with easy to understand explanations about why retailers should reject or accept a specific transaction. The Feedzai Fraud API will also be one of ten that will be part of the Money20/20 Hackathon on Nov. 1-2 in Las Vegas.

The new Feedzai Fraud API utilizes the company's Fraud Prevention That Learns™ software which processes big data, including mobile and social data streams, in real-time to create deep learning profiles for each customer, retailer, location or POS device, product, with up to a three-year history of data behind it. This data helps retailers and banks mitigate risk, guard every transaction and preserve the customer buying experience. The API will allow developers to send payment data and receive a fraud score with easy-to-understand explanations, allowing fraud detection by leveraging Feedzai's omnichannel models residing on its artificial intelligence platform.

"Retailers are taking a beating lately. Our mission is to stop fraud before it happens and, ultimately, make commerce safe for buyers and sellers by using machine learning and human intelligence," said Nuno Sebastiao, CEO at Feedzai. "Feedzai's technology improves as it self-learns. The possibilities with our real-time fraud detection software are entirely limitless and we look forward to seeing what developers will do to innovate and help win back the day for retailers."

Easy to connect to Feedzai's machine learning engine, the Fraud API is available in the Developer Center provides the ability for fraud detection in real-time with human-readable explanations (i.e. whitebox scoring), telling merchants why they should worry/not worry about a specific transaction. Example plug-ins developers may create with the API include integrations within payment gateways, crowdsourcing systems for transacting reviews and automatic two-factor authentication of customers through SMS or mobile phones.

Feedzai will be participating in the Money20/20 Hackathon, with nine other companies in the payments and financial services sector, including Intuit, MasterCard and PayPal. Developers working with Feedzai's API are challenged to make creative use of other services and to empower the community to protect merchants from payment fraud. The winning team using Feedzai's API in the Hackathon will win $20,000 and either a booth takeover at Money20/20 or a Copenhagen Wheel Developer Edition SDK.

To learn more about Feedzai, visit www.feedzai.com. Request access to the Feedzai Fraud API at https://www.feedzai.com/home/register/.

About Feedzai
Feedzai is a data science company that uses real-time, machine-based learning to help payment providers, banks and retailers prevent fraud in omnichannel commerce. Feedzai is a global company, with US headquarters in San Mateo and is backed by SAP Ventures, big data investment firm Data Collective, and other international investors. Companies that rely on Feedzai include Coca-Cola, Logica, Vodafone, Ericsson, SIBs Payment Solutions, Horizon Wind Energy, and Servebase Credit Card Solutions. For additional information, visit http://www.feedzai.com.

SOURCE Feedzai

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