Feedzai’s technology, which has been available in Europe since 2008, analyzes transactions made through brick-and-mortar stores or online purchases and searches for abnormal activity. The company’s solution is different from other fraud detection software because Feedzai’s algorithms use a much larger sample and range of data to make this determination, chief executive Nuno Sebastiao told VentureBeat, and remember cases where fraud actually occurred.
“Other solutions are not built to understand signals that might be indicative of fraudulent transactions,” Sebastiao said, “and that’s where we really shine head-to-head.”
Feedzai’s software can correctly determine when fraud occurs 30 percent quicker than traditional systems, according to the company.
The company’s software is now available to U.S. retailers, banks, and payment networks. Feedzai’s European customers include Coca-Cola, Vodafone, and Ericsson.
The company’s U.S. headquarters are located in San Mateo. Feedzai has received a total of $4.3 million in funding to date from SAP Ventures and other worldwide investors.
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more