Feedzai is buying Demyst to unify its AI-powered threat administration with exterior knowledge orchestration, enabling sooner, smarter fraud detection and compliance choices.
The mixing of Demyst’s Zonic platform will assist monetary establishments streamline onboarding, improve fraud prediction, and cut back friction in real-time threat operations.
As demand grows for dynamic, real-time knowledge in monetary providers, this deal will allow Feedzai to supply a extra complete threat intelligence platform.
Danger administration supplier Feedzai is buying data-as-a-service (DaaS) platform Demyst this week. Monetary phrases of the deal weren’t disclosed, however Feedzai will use Demyst to unify its threat administration options with exterior knowledge orchestration to supply sooner, smarter fraud detection.
“There isn’t a scarcity of knowledge in our trade—the trick is the right way to entry the appropriate knowledge as shortly as potential so to speed up threat choices with the fewest client friction factors,” mentioned Feedzai CEO and Co-founder Nuno Sebastiao. “Demyst is a primary mover and chief in accessing obligatory knowledge—inside or exterior—on the important second for any a part of the consumer journey. Paired with Feedzai’s market-leading AI, this ensures each knowledge level is totally utilized to drive smarter and sooner choices. Extra broadly, this acquisition marks a pivotal second in persevering with Feedzai’s evolution from an information client to an information supplier.”
Feedzai goals to leverage Demyst’s Zonic knowledge workflow orchestration platform, mental property, and complex data-integration capabilities to unify knowledge orchestration and threat administration right into a single platform. Collectively, the 2 firms will ship an information orchestration platform with fraud prevention measures, enhanced account opening capabilities, contextual intelligence for fraud prediction and prevention, higher buyer experiences, improved threat insights, and operational effectivity.
Based in 2011, Feedzai is a threat operations platform specializing in identification verification, fraud prevention, and monetary crime detection. The corporate’s AI-powered options span KYC, AML, watchlist screening, and transaction fraud monitoring to assist monetary establishments cease fraud in actual time with out compromising the shopper expertise. In the present day, Feedzai protects over one billion shoppers in additional than 190 nations and safeguards over $8 billion in transactions yearly.
“Exterior knowledge is the following frontier of enterprise influence for monetary establishments, but it’s notoriously advanced, involving a labyrinth of sources for KYC/AML, identification, fraud, credit score checks, and compliance,” mentioned Demyst CEO Mark Hookey. “We’re thrilled to affix Feedzai to carry AI and knowledge collectively at scale for our prospects. Collectively we’re constructing probably the most superior resolution for buyer onboarding, fraud prevention, and threat administration.”
Hookey, together with different key members of the Demyst group, will stay with Feedzai.
Demyst was based in 2010 as an exterior knowledge platform that allows monetary establishments to find, consider, and deploy third-party knowledge shortly and securely. By streamlining entry to a whole bunch of curated knowledge suppliers throughout classes like identification, revenue, enterprise verification, and credit score threat, Demyst helps banks and fintechs make smarter choices sooner, with out the standard knowledge integration friction.
The deal highlights a rising curiosity in knowledge orchestration and AI-driven threat administration. As monetary providers firms grapple with more and more subtle fraud ways and regulatory calls for, the flexibility to entry, combine, and act on real-time knowledge is turning into essential, particularly as the prices of accessing and analyzing the info are rising. By combining Feedzai’s AI and threat operations platform with Demyst’s exterior knowledge orchestration capabilities, the deal positions Feedzai to supply a extra holistic, end-to-end threat intelligence resolution.
Picture by Markus Spiske
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