Feedzai, the trailblazer of the world’s inaugural RiskOps platform for financial risk management, has formed an alliance with Portugal’s prominent banking entity, Novobanco.
Both companies are united with the shared aim of augmenting the bank’s customer experience, digital journey, and enhancing fraud protection.
The reason behind this partnership is Novobanco’s continuous strive for investment in enhancing customer engagement and improving its digital footprint. By partnering with Feedzai, Novobanco aims to offer superior fraud protection and enrich the digital journey of its clients.
Novobanco, a comprehensive Portuguese bank, serves both corporate and retail segments, providing an extensive array of financial products. With a portfolio of 1.5m clients, €43.8bn assets, and a 9.6% market share, it is the fourth largest bank in its domestic market. Meanwhile, Feedzai leads the market with its RiskOps platform, employing machine learning and artificial intelligence to secure commerce and manage risk.
The partnership will leverage Feedzai’s premier Digital Trust (DT) and Transaction Fraud for Banking (TFB) solutions. Together, these tools facilitate real-time, profound analysis of customer behaviour, network, device, and threat data. This technology helps identify genuine customers, block fraud before it occurs, and offers a fair treatment of Novobanco’s customers.
Novobanco aims to use these solutions to optimise its services for all customers, boosting trust, satisfaction, and engagement levels.
Feedzai is a Series D company, having raised $282m and possessing a valuation of over $1.5bn. The company’s technology protects 900 million people across 190 countries. On the other hand, Novobanco continuously improves client experience with its transparent, simple, and safe products and services.
Nuno Pires, global head of sales at Feedzai said, “We’re proud that Novobanco has selected Feedzai as a trusted partner. The Digital Trust and Transaction Fraud for Banking solutions which are part of our RiskOps platform will empower Novobanco to further enhance its fantastic service whilst providing the highest level of financial security for its customers.”
Duarte Pupo Correia, EVP, head of digital channels at Novo Banco added, “As a customer centric Bank, at Novobanco we are committed to continuously improving and providing the most intuitive, appealing and secure experience for all our customers. As we continue to invest in our digital ecosystem, implementing Feedzai’s best-in-class solutions will ensure we can raise the bar to a higher level.”
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