US-based Feedzai has partnered with CoreCard to safeguard the processing market against fraud by leveraging AI-powered defence systems. Through this collaboration, CoreCard intends to enhance its fraud detection and prevention capabilities to grow on its existing spending control competences.

The partnership with Feedzai also supports CoreCard’s commitment to offering comprehensive services to its clients and solidifying its position as a card management system and processing services provider. Feedzai – CoreCard partnership objectives Feedzai’s solutions aim to provide more advanced fraud detection and prevention capabilities for CoreCard, leveraging AI to monitor and flag suspicious transactions in a matter of seconds with high degrees of accuracy. The company intends to use Feedzai’s AI Card Transaction feature to support clients issuing credit, debit, and prepaid cards with the Visa, Mastercard, Amex, and Pulse logos.

The interface offers a flexible case management system for CoreCard’s processing clients, while the alerts on transactions and cardholders allow the company to manage events efficiently and minimise friction at the point of sale. Moreover, the partnership improves CoreCard’s long-term strategy of expanding its issuer processing capabilities to include a wider range of value-added services, offering a simplified route to a successful card program. According to Feedzai’s officials, the collaboration with CoreCard aims to provide its clients with fraud detection solution, while also underlining their joint commitment to deliver technology and solidify its positions as a partner in the fight against financial crime. Representatives from CoreCard stated that, by joining forces with Feedzai, the company can enable its clients to protect their cardholders while simplifying their operations.

Feedzai’s recent developments and partnerships With its suite of AI-based solutions, Feedzai intends to protect individuals and payments against fraud and financial crime. In recent months, the company entered multiple collaborations, including one with Dock, a Brazil-based B2B fintech, to offer the latter's clients additional security solutions. The partnership enabled Dock’s customers to leverage Feedzai’s application AI and machine learning models, as well as its cloud-first model that provides access to enhanced technology in all Latin American countries. Moreover, in July 2023, considering the rising levels of fraudulent activities, Feedzai launched the Railgun fraud detection engine to decrease financial crime.

To introduce Railgun, the company conducted years of research and development and paired its patents in area of streaming analytics. Railgun was designed to tackle some of the main difficulties in the current fraud detection systems, including scalability, latency, speed of risk strategy updates, and real-time calculations. A month prior, Feedzai partnered with Novobanco, a Portugal-based bank, to improve customer experience and protection against financial crime. The collaboration enabled Novobanco to implement Feedzai’s RiskOps platform to optimise user experience while also improving protection for its customers against financial crime.

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