Leumi Card Selects Feedzai AI Platform to Fight Fraud

Leumi Card Selects Feedzai AI Platform to Fight Fraud
23.06.2017 10:15 am

Leumi Card Selects Feedzai AI Platform to Fight Fraud

Artificial Intelligence

Leumi Card, one of Israel’s leading consumer credit card service providers, will implement Feedzai’s Artificial Intelligence (AI) platform to enhance its fraud detection and prevention capabilities, while continuing to provide a frictionless omnichannel experience for its customers.

“Fraud mitigation tools have not kept pace with today’s mobile-enabled, always-connected consumers,” said Gilead Kehat EVP Human resources and staff of Leumi Card, “Our customers demand an omnichannel experience whether it’s in person, online or via mobile devices. Feedzai’s agile machine learning platform helps predict and prevent fraud before it impacts our customers. We are continuing to deliver on our promise to provide the best banking experience today and into the future, by investing in tomorrow’s technology.”

Feedzai’s technology utilizes machine learning that allows users like Leumi Card to create profiles of normal behavior, and flag instances of abnormal behavior, to detect and prevent criminal threats in real time with high accuracy. Feedzai is making artificial intelligence attainable by allowing banks to build, train, test and deploy their own models all on the same platform, helping clients to prepare for the unknown. With whitebox processing, Feedzai’s artificial intelligence platform also provides a human-readable semantic layer onto the underlying machine logic, putting humans in charge of the machine.

“Feedzai is pioneering artificial intelligence that is attainable and accessible, AI like running water, a new utility for humans.” said Nuno Sebastiao, CEO of Feedzai, “AI that is explainable and puts humans in control is transforming the financial industry, and we are excited to be working with Leumi Card to help provide experiences that are not only secure, but frictionless across any device.” 

Related News

GHDDI launches free AI Virtual Screening Service for COVID-19 powered by Alibaba Cloud

Powered by Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, the Global Health Drug Discovery Institute (GHDDI) launched a ... Read more »

Royal Bank of Canada and Borealis AI announce new AI private cloud platform, developed with Red Hat and NVIDIA

Royal Bank of Canada (RBC) and its AI research institute Borealis AI have partnered with Red Hat and NVIDIA... Read more »

QuantaVerse’s AI-powered AML solutions secure highest possible ratings from independent model validation firm

QuantaVerse, which uses AI and machine learning to automate financial... Read more »

Banca Profilo will now offer four discretionary mandates powered by the Artificial Intelligence of MDOTM

After the positive results of 2019, Banca Profilo grows the suite of products powered by Artificial Intelligence launching three additional discretionary... Read more »

Banks must resolve explainability and “black box” risk governance challenges to succeed with AI post-pandemic, says Economist Intelligence Unit report supported by Temenos

Data bias, “black box” risk, and lack of human oversight are the main governance issues for banks using AI, according to the Economist Intelligence Unit (EIU) report “... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel