Feedzai is buying Demyst to unify its AI-powered threat administration with exterior information orchestration, enabling sooner, smarter fraud detection and compliance choices.
The mixing of Demyst’s Zonic platform will assist monetary establishments streamline onboarding, improve fraud prediction, and cut back friction in real-time threat operations.
As demand grows for dynamic, real-time information in monetary companies, this deal will allow Feedzai to supply a extra complete threat intelligence platform.
Threat administration supplier Feedzai is buying data-as-a-service (DaaS) platform Demyst this week. Monetary phrases of the deal weren’t disclosed, however Feedzai will use Demyst to unify its threat administration options with exterior information orchestration to supply sooner, smarter fraud detection.
“There is no such thing as a scarcity of information in our business—the trick is how you can entry the best information as shortly as attainable so to speed up threat choices with the fewest client friction factors,” mentioned Feedzai CEO and Co-founder Nuno Sebastiao. “Demyst is a primary mover and chief in accessing crucial information—inside or exterior—on the crucial second for any a part of the consumer journey. Paired with Feedzai’s market-leading AI, this ensures each information level is totally utilized to drive smarter and sooner choices. Extra broadly, this acquisition marks a pivotal second in persevering with Feedzai’s evolution from a knowledge client to a knowledge supplier.”
Feedzai goals to leverage Demyst’s Zonic information workflow orchestration platform, mental property, and complicated data-integration capabilities to unify information orchestration and threat administration right into a single platform. Collectively, the 2 firms will ship a knowledge orchestration platform with fraud prevention measures, enhanced account opening capabilities, contextual intelligence for fraud prediction and prevention, higher buyer experiences, improved threat insights, and operational effectivity.
Based in 2011, Feedzai is a threat operations platform specializing in identification verification, fraud prevention, and monetary crime detection. The corporate’s AI-powered options span KYC, AML, watchlist screening, and transaction fraud monitoring to assist monetary establishments cease fraud in actual time with out compromising the client expertise. At the moment, Feedzai protects over one billion customers in additional than 190 international locations and safeguards over $8 billion in transactions yearly.
“Exterior information is the following frontier of enterprise influence for monetary establishments, but it’s notoriously advanced, involving a labyrinth of sources for KYC/AML, identification, fraud, credit score checks, and compliance,” mentioned Demyst CEO Mark Hookey. “We’re thrilled to hitch Feedzai to deliver AI and information collectively at scale for our prospects. Collectively we’re constructing probably the most superior answer for buyer onboarding, fraud prevention, and threat administration.”
Hookey, together with different key members of the Demyst workforce, will stay with Feedzai.
Demyst was based in 2010 as an exterior information platform that allows monetary establishments to find, consider, and deploy third-party information shortly and securely. By streamlining entry to a whole bunch of curated information suppliers throughout classes like identification, revenue, enterprise verification, and credit score threat, Demyst helps banks and fintechs make smarter choices sooner, with out the standard information integration friction.
The deal highlights a rising curiosity in information orchestration and AI-driven threat administration. As monetary companies firms grapple with more and more refined fraud techniques and regulatory calls for, the power to entry, combine, and act on real-time information is turning into essential, particularly as the prices of accessing and analyzing the information are rising. By combining Feedzai’s AI and threat operations platform with Demyst’s exterior information orchestration capabilities, the deal positions Feedzai to supply a extra holistic, end-to-end threat intelligence answer.
Picture by Markus Spiske
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