- The Chartis Enterprise Fraud Solutions, 2023: Market Update and Vendor Landscape covers several themes in the market for anti-fraud solutions
- Feedzai’s RiskOps Platform outperformed 21 other vendors in “Completeness of Offering”, reinforcing its ‘best in class’ cutting-edge technology in tackling financial crime
Feedzai, the RiskOps platform for financial risk management, has been named a category leader in Enterprise Fraud Management by Chartis in its latest report, Enterprise Fraud Solutions, 2023: Market Update and Vendor Landscape.
The report covers multiple themes in the market for anti-fraud solutions. In particular, it focuses on the importance of model risk and the increasing complexity of the data required, large language models and the commodification of artificial intelligence (AI) that can trigger new types of fraud. It also covers the cloud equation of balancing costs, infrastructure and speed of processing with scalability, flexibility and security demanded by the market.
Feedzai outperforms 21 other vendors in “Completeness of Offering” and as a result, ranked as a category leader. It was ranked “best-in-class” in 4 out of the 6 categories: Advanced fraud detection techniques, Libraries of pre-packaged fraud rules, Case Management and workflow and Transaction Monitoring.
Chartis highlighted Feedzai’s breadth across multiple use cases, adaptability to meet individual bank challenges as opposed to a “one size fits all” approach and its volume and processing speed, compared to other vendors. Additionally, Feedzai’s strong presence in Europe, followed by North America, LATAM and APAC also set it apart.
Pedro Barata, Chief Product Officer at Feedzai said, “We’re proud to again be named as a category leader by Chartis in its latest Enterprise Fraud Management report. As criminals get ever more sophisticated, and market challenges continue to evolve, our RiskOps platform can provide a complete and future-proof solution for enterprises to protect their consumers whilst providing them with the best user experience.”
“Feedzai has demonstrated its ability to respond to the fast-moving trends of the marketplace, with key differentiators that include flexibility, speed of deployment, and proprietary analytics technology in Feedzai’s RiskOps platform,” said Phil Mackenzie, Research Principal at Chartis. “This, combined with rapid growth among a broad collection of both legacy and challenger financial institutions, is reflected in its Category Leader position in Chartis’ Enterprise Fraud 2023 quadrant.”
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