Welcome!

News Feed Item

Citi Ventures Makes Strategic Investment in Feedzai, Provider of Data-Driven AI Fraud Prevention Technology

Feedzai, a leading data science company shaping the future of fraud detection in commerce, today announced the close of a strategic investment from Citi Ventures, which accelerates innovation and growth at Citi. This investment will enable Feedzai to continue to expand its offerings to commerce and banking systems in new geographies.

Feedzai’s next-generation machine learning platform evolves to scan large amounts of data and recognize continuously evolving threats as they emerge, alerting customers in real-time to protect against fraud. Feedzai also offers user-friendly, omni-channel support to protect consumers on the digital platform where they choose to engage with banking or commerce. With its investment in Feedzai, Citi Ventures will support the development and commercialization of new solutions with the potential to transform how to identify and prevent malicious activity in financial services. Feedzai joins Citi Ventures’ existing portfolio of leading companies like Jet.com, Square, Appboy and Chef.

“As cyberattacks become increasingly sophisticated, investing in technologies that have the potential to advance security for our customers’ financial lives is a priority,” said Ramneek Gupta, Managing Director and co-head of Venture Investing at Citi Ventures. “Our investment in Feedzai will help support the continued development of their unique machine learning platform, which provides the ability to identify new and emerging threats and protect bank customers at scale.”

“This investment will help Feedzai continue to develop next-generation security services that transcend data and business silos throughout the commerce ecosystem,” said Nuno Sebastiao, CEO and co-founder of Feedzai. “One of the drivers behind Feedzai’s partnership with Citi Ventures was the opportunity to actively collaborate and forge new relationships to continue to scale our offerings. Citi Ventures will be a partner to advance what we see as the new knowledge economy, helping us forge the cognitive revolution.”

Feedzai’s technology is built using machine learning and artificial intelligence that adapts with the detection of new malicious threats at scale, helping business customers make data-backed decisions and de-risk commerce transactions in real-time. The innovative Whitebox Explanations™ is a human-friendly semantic layer that explains every decision with plain readable text. Only Feedzai’s Segment of One™ profiling capability delivers the optimal customer experience while reducing friction when banking or shopping, in any channel or on any device.

Learn more about Feedzai at www.feedzai.com.

About Feedzai

Feedzai is AI. We’re coding the future of commerce with a leading platform powered by artificial intelligence and big data. Founded and developed by data scientists and aerospace engineers, Feedzai has one critical mission: make commerce safe. The world’s largest banks, payment providers and retailers use Feedzai’s machine learning technology to manage risks associated with banking and shopping, whether it’s in person, online or via mobile devices. Learn more at www.feedzai.com.

About Citi Ventures

Citi Ventures accelerates innovation at Citi through a strategic focus on investing in, piloting and commercializing new solutions with the potential to transform the future of financial services. Headquartered in Silicon Valley with offices in San Francisco and New York, Citi Ventures aims to cultivate next-generation experiences for Citi's customers by investing in startups, experimenting with new technologies through its global lab network, and driving enterprise-wide, lean startup-based growth initiatives across Citi’s businesses. The team focuses in five key areas: Financial Services & Technology, Commerce & Payments, Security & Enterprise IT, Big Data & Analytics, and Marketing & Customer Experience. Citi Ventures accelerates its portfolio companies' ability to scale through collaboration with Citi's global businesses and industry experts. For more information visit: http://ventures.citi.com/.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that TidalScale, a leading provider of systems and services, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale has been involved in shaping the computing landscape. They've designed, developed and deployed some of the most important and successful systems and services in the history of the computing industry - internet, Ethernet, operating s...
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, will discuss how from store operations...
Though cloud is the future of enterprise computing, a smooth transition of legacy applications and systems is critical for seamless business operations. IT professionals are eager to start leveraging the cost, scale and other benefits of cloud, but with massive investments already in place in existing infrastructure and a number of compliance and resource hurdles, it can be challenging to move to a cloud-based infrastructure.
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, will go over the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, applicatio...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
We all know that end users experience the Internet primarily with mobile devices. From an app development perspective, we know that successfully responding to the needs of mobile customers depends on rapid DevOps – failing fast, in short, until the right solution evolves in your customers' relationship to your business. Whether you’re decomposing an SOA monolith, or developing a new application cloud natively, it’s not a question of using microservices – not doing so will be a path to eventual b...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, will lead you through the exciting evolution of the cloud. He'll look at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering ...
Infoblox delivers Actionable Network Intelligence to enterprise, government, and service provider customers around the world. They are the industry leader in DNS, DHCP, and IP address management, the category known as DDI. We empower thousands of organizations to control and secure their networks from the core-enabling them to increase efficiency and visibility, improve customer service, and meet compliance requirements.
In his session at 21st Cloud Expo, Michael Burley, a Senior Business Development Executive in IT Services at NetApp, will describe how NetApp designed a three-year program of work to migrate 25PB of a major telco's enterprise data to a new STaaS platform, and then secured a long-term contract to manage and operate the platform. This significant program blended the best of NetApp’s solutions and services capabilities to enable this telco’s successful adoption of private cloud storage and launchi...
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...
Transforming cloud-based data into a reportable format can be a very expensive, time-intensive and complex operation. As a SaaS platform with more than 30 million global users, Cornerstone OnDemand’s challenge was to create a scalable solution that would improve the time it took customers to access their user data. Our Real-Time Data Warehouse (RTDW) process vastly reduced data time-to-availability from 24 hours to just 10 minutes. In his session at 21st Cloud Expo, Mark Goldin, Chief Technolo...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo Silicon Valley which will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. "DevOps is at the intersection of technology and business-optimizing tools, organizations and processes to bring measurable improvements in productivity and profitability," said Aruna Ravichandran, vice president, DevOps product and solutions marketing...