US-based RiskOps platform for financial risk management Feedzai has introduced the Railgun fraud detection engine to tackle financial crime. Railgun is Feedzai’s next-generation AI engine, and it was designed to tackle financial fraud even before it occurs.

The product launch comes in the context of rising levels of financial crime, as criminals adopt new techniques based on generative AI. As a result, fraud-fighting technologies such as Railgun play a key role in protecting consumers and financial institutions. The complexity and advanced capabilities of Railgun are owed to years of research and development paired with Feedzai’s patents in the area of streaming analytics.

Conventional fraud detection engines use risk profiles that include customer information, such as transaction history over specific periods, and assess the likelihood of fraudulent activity based on a real-time comparison between current transactional activity and typical behaviours from the past. However, as risk engines need to store profiles for several customers, cards, and terminals, they use large amounts of low-latency memory space at scale. To support scalability, current systems simplify data inputs and limit historical context, which can have an impact on fraud detection accuracy.

These systems also have a harder time adapting to emerging threats because updating risk profiles is an expensive and time-consuming offline process. The main highlights of Railgun Railgun was designed to address some of the main compromises in today’s fraud detection systems. When it comes to scalability and latency, the system can help financial institutions handle increasing transaction volumes without compromising accuracy or decision latency.

According to Feedzai, Railgun can also improve the speed of risk strategy updates by enabling faster responses to emerging fraud threats. New rules become effective almost immediately and risk recalculation no longer takes a toll on data science teams. Railgun supports real-time calculations based on data across much longer time windows.

Therefore, it allows financial institutions to benefit from better observability and understanding of customer behaviours, which results in a more accurate detection of suspicious activities. In the official press release, representatives from Feedzai talked about evolving technologies and the importance of making artificial intelligence tools more accessible. They also brought up Railgun and its financial crime-fighting capabilities.

In essence, Railgun eliminates the need for banks to make risk profiling assumptions or generalisations, thus helping protect millions of people around the world. For more information about Feedzai, please check out their detailed profile in our dedicated, industry-specific Company Database. .