- Feedzai has partnered with Novobanco to offer the bank’s clients protection from financial crime.
- Novobanco wil leverage the Digital Trust (DT) and Transaction Fraud for Banking (TFB) solutions within Feedzai’s Risk-Ops.
- Novobanco anticipates the new technology will enhance trust, optimize customer engagement, and ultimately boost customer satisfaction.
Feedzai inked a partnership with Portuguese bank Novobanco this week. The risk management and fraud prevention company has agreed to protect the bank’s clients from financial crimes while not detracting from the customer experience.
Specifically, Novobanco will leverage the Digital Trust (DT) and Transaction Fraud for Banking (TFB) solutions within Feedzai’s Risk-Ops, a platform that helps firms protect users from financial crime. The tool is embedded into firms’ existing workflows to help uncover hidden criminal activity while not disrupting the customer experience.
“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,” said Feedzai Global Head of Sales Nuno Pires.
With 1.5 million clients and $47.8 billion (€43.8 billion) in assets, Novobank is the 4th largest bank in its domestic market. The bank maintains a customer-centric culture by offering an omnichannel customer experience and transparent, simple products.
Novobanco anticipates that DT and TFB will enhance trust, optimize customer engagement, and ultimately boost customer satisfaction. Combined, the two solutions will help Novobank analyze and understand customer behavior, flag security threats, and block fraud attempts in real time.
Also based in Portugal, Feedzai was founded in 2011. The company’s solutions help fight fraud in more than 190 countries. In 2021, Feedzai was valued at more than one billion dollars after receiving a $200 million funding round that boosted its total funding to $277 million. There is no word on an updated valuation.
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