Leading Financial Risk Management Platform Raises $200 Million Growth Investment Led by KKR
Summary
The new investment will be used to accelerate the company’s global expansion, further develop its product offerings, and boost its partner strategy to strengthen its position as one of the most comprehensive financial crime prevention and risk management solutions in the market. The investment comes as demand for Feedzai’s technology is accelerating alongside the rapid shift to digital banking and commerce, which has led to a significant increase in consumers becoming victims of financial crime. Every time someone opens a bank account, transfers money, or makes a payment with their mobile device, they are experiencing transparency, convenience, and protection in 3 milliseconds or less – all made possible by Feedzai’s AI platform. At the same time, consumers rightfully demand a great customer experience, in addition to strong security layers when using banking or payments services,” said Stephen Shanley, Managing Director at KKR. The company has also expanded its Responsible AI framework, which was recently recognized as “Fraud Prevention Innovation of the Year” by Fintech Breakthrough, to allow financial institutions to provide the best customer experience possible while ensuring that Fairness, Accountability, Transparency, and Ethics (FATE) become part of the decision-making process.