Raiffeisen Bank partnered AI security solutions provider

Raiffeisen Bank International partners with Feedzai

Raiffeisen Bank partnered AI security solutions provider. Source: shutterstock.com

One of CEE’s leading banking groups Raiffeisen Bank International (RBI) and a global AI anti-fraud company Feedzai announced a partnership to facilitate security due to real-time monitoring in the payment channels.

Financial crime attacks are increasing, and the need for robust security using the most advanced machine learning is more important than ever, especially for banks. This includes solutions that are flexible enough to scale to new use cases and channels as the bank develops. This is especially important in the age of PSD2 and similar regulation, where RBI and other EU banks strive to provide open banking solutions that meet strict security standards. Feedzai claims its AI-based solution can make that happen.

RBI’s Financial Crime Management teams across the group will use Feedzai’s machine learning products, such as AutoML, automating feature engineering and other parts of the data science loop, and Feedzai Genome, visual link analysis for finding illicit patterns with greater scope and accuracy.

SEE ALSO: Schemes & types of banking card fraud to watch out for

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