Feedzai Releases API Updates for Its Fraud Detection Service

SAN MATEO, Calif., Feb. 25, 2015 /PRNewswire/ -- Feedzai, a data science company that uses real-time, machine-based learning to analyze big data to make commerce safe, today announced upgrades to its fraud detection service API for developers, which has seen exponential growth since its launch at Money20/20 in October 2014. Through its developer portal, Feedzai has seen more than 300 percent growth in transactions in just four months and a dramatic surge in its certified partner program. Kill Bill, the leading open source platform that offers a flexible subscription for billing and payments, has become a Feedzai certified partner.

"We've validated a lot of what we've already initially discovered about retailer needs by handling the millions of dollars of purchases that have come through the Feedzai API in the last several months," said Nuno Sebastiao, CEO at Feedzai. "These businesses are looking for plug-in software with open architecture like Kill Bill that can better handle highly custom business logic. Our certified partners continue to innovate by embedding 'anti-fraud as a service' to ultimately create beautiful experiences for sellers and buyers."

With the help of the developer community, Feedzai made several improvements to its portal. Advancements to Feedzai's API include:

• Customer blacklisting and whitelisting. Abusive customers that have historically been bad news can now be added to a blacklist and developers can receive alerts every time they place an order; trusted customers are added to a whitelist. From the initial tag, blacklisted customers are automatically flagged for review while whitelist customers won't be flagged again.
• Search and filtering. Developers can review orders faster and with easier access to all their data through several parameters such as risk score, amount, date, and address. Developers also have the option to group orders as unreviewed, safe, and/or fraudulent.
• More information about payers. To make better decisions, developers have more payer information on their dashboard (when the shopping cart platform or card processors make this information available) including the first 6 digits of the card number, card brand, cardholder name and available CVV code.
• A lean dashboard for all devices. Developers accessing dashboards on mobile devices can quickly load and facilitate expedited order fulfillment.
• Live alerts. Currently in beta, Live Alerts gives developers instant individual e-mail notifications of suspicious orders in real-time. This is critical for sellers with expedited shipping programs and those in the digital goods space. Email [email protected] to join the BETA program and get this new BETA feature activated.

"Over the past few years, we've seen tremendous innovation by fraudsters, and it's getting more and more difficult to distinguish legitimate credit card transactions from criminal ones," said Pierre-Alexandre Meyer, co-creator of Kill Bill. "Rule-based fraud detection solutions simply don't work anymore. We're very excited to partner with Feedzai because their machine learning algorithms will help us help our merchants fight fraud more effectively."

The Fraud API, available in the Developer Center, provides fraud detection in real-time with human-readable explanations (i.e. whitebox scoring), and helps merchants understand why they should or should not worry about a specific transaction. Examples of Feedzai's developer-led solutions include: Adding email reputation validation for new users, building a crowdsourced database of suspicious IP addresses or blacklists, layering a 2-factor authentication into the checkout flow, and embedding real-time alerts into call center operations.

To learn more about Feedzai, visit www.feedzai.com.

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