Citi Partners With Feedzai to Provide Machine Learning Payment Solutions |
NEW YORK-- BUSINESS WIRE --Citis Treasury and Trade Solutions has entered into a strategic partnership with Feedzai a leader in Artificial intelligence AI for real-time risk management across banking and commerce Citi will be integrating Feedzais transaction monitoring platform powered by advanced machine learning technology into its own proprietary services and platforms to provide clients with enhanced control and risk management for payments transactions This collaboration follows a strategic investment made by Citi Ventures in Feedzai in 2016 Citi is one of the most successful banks in the world for a reason because they invest in their customers experience Tweet this Our strategic partnership with Feedzai demonstrates our deep commitment to using technology to drive innovation With the help of Feedzais solution we can scale rapidly in an effort to deliver value to our clients allowing them to make payments securely efficiently and without friction across the globe said Manish Kohli Global Head of Payments and Receivables Citis Treasury and Trade Solutions Cyber-attacks have become increasingly frequent and sophisticated and banks need to be more vigilant than ever especially given increasing automation and digitization Simultaneously given the rapid growth of instant payments client expectations for speed in processing payments continue to rise Feedzais machine learning technology will automatically adjust controls to monitor discrepancies and changes in client payment behavior allowing for the analysis and identification of potential anomalies in affected payments before they are sent for clearing It will do this while ensuring that payments are processed quickly and efficiently Citi expects to be live with a new solution leveraging Feedzais technology in 2019 Citi is one of the most successful banks in the world for a reason because they invest in their customers experience said Nuno Sebastiao Feedzai CEO and co-founder Were proud to continue working together to be part of that innovation that helps Citi to continue to show the world what world-class digital transformation for banks looks like Citi Treasury and Trade Solutions TTS helps enable our clients success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations financial institutions and public sector organizations across the globe Based on the foundation of the industrys largest proprietary network with banking licenses in over 90 countries and globally integrated technology platforms TTS continues to lead the way in offering a comprehensive range of digitally enabled treasury trade and liquidity management solutions About Citi Citi the leading global bank has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions Citi provides consumers corporations governments and institutions with a broad range of financial products and services including consumer banking and credit corporate and investment banking securities brokerage transaction services and wealth management Additional information may be found at wwwcitigroupcom Twitter Citi YouTube wwwyoutubecom citi Blog http blogcitigroupcom Facebook wwwfacebookcom citi LinkedIn wwwlinkedincom company citi About Feedzai Feedzai is the market leader in fighting fraud with AI Were coding the future of commerce with todays most advanced risk management platform powered by big data and machine learning Founded and developed by data scientists and aerospace engineers Feedzai has one mission to make banking and commerce safe The worlds largest banks processors and retailers use Feedzais fraud prevention and anti-money laundering products to manage risk while improving customer experience