Finxact, the provider of the next-gen core banking platform to the US regional and super-regional banking sector hasannounced that Feedzai, the leading cloud-based financial risk management platform, has joined its Marketplace of best-in-class solutions.
The collaboration will couple next-gen core capabilities and real-time core transaction data with the speed and scale of Feedzai’s financial risk and fraud monitoring across all banking channels.
Feedzai uniquely provides one cloud-based platform to manage financial risk, enabling banks to harness AI and machine learning to monitor customers and transactions. By converging Fraud and AML (FRAML) under one platform, Feedzai empowers banks along the life cycle of prevention, detection, remediation, and compliance for both. Feedzai has been recognized as best-in-class for vendor strength, and product performance by Aite, and as a top-ranked vendor in strategy by Forrester.
The Finxact Marketplace attracts the leading fintechs and banking technology providers to position their solutions to the market integrated with the leading next gen core platform via its open-API architecture. In the Marketplace, banks can readily identify solutions for which they may become the driver for API-based integration, as well as those solutions that are pre-integrated and form part of the Finxact reference ecosystem in production environments.
“We are encouraged to see companies like Feedzai taking financial crime and risk mitigation to the next level just as Finxact endeavors to take core banking to the next level. High volume, low value alerts have little utility, and will have less as banking increasingly spans time zones and devices. The Feedzai platform will help Finxact customers be vigilant and focus on what matters,” said Christopher McClinton, CMO of Finxact.
“Feedzai’s mission is to make banking and commerce safe. By adding the Feedzai platform to the Finxact Marketplace, the forward-thinking banks using Finxact can more easily secure and scale their innovative offerings, keeping their customers safe from fraud and money-laundering threats,” said Sunil Daluvoy, Head of Global Partnerships at Feedzai. “Our shared cloud-first philosophy makes Feedzai and Finxact a great combination for banks looking for the speed, scalability, and flexibility of the cloud.”
