Feedzai and Encap form security partnership

Source: Feedzai

Feedzai, a company that uses data science and behavioral profiling to prevent fraud, and Encap Security, the mobile authentication specialist, have announced a new partnership designed to support banks and merchants in making modern banking and commerce safe.

The partnership will make Feedzai's proven, machine-based fraud prevention platform compatible with Encap Security's bank-grade, smarter authentication platform.

With the partnership, the two companies expand their ecosystem of pre-integrated, compatible solutions for banks and retailers to engage and protect the new mobile-empowered consumer—whether that's for initial account opening or ongoing transacting and buying.

Feedzai uses deep behavioral profiling and big data science in its fraud management platform in order to establish a 360-degree safety net around every customer.

"Consumers are using more devices to conduct financial transactions and at the same time, are demanding more protection but with less intrusion into their commerce journey," said Nuno Sebastiao, CEO, Feedzai. "Adding smart authentication and artificially intelligent risk engines on the back end offers safety without being obtrusive and penalizing good consumers, thus making modern commerce and banking safe—whether that's online, in-person, or on mobile devices, anywhere and anytime."

Encap Security turns any personal mobile device into a security credential, eliminating the burden of costly and cumbersome customer authentication methods such as SMS codes or hardware tokens.

"Consumers deserve a safe online experience whether you're banking or making a purchase online or with your mobile device. Outdated technology such as passwords, SMS codes, and software tokens are not going to cut it," said Adam Dolby, vice president of business development, Encap Security. "It's time to think about security by focusing on the customer, not on the product. Consumers should have protection at all touch points where fraud can happen, without sacrificing security or convenience. The combination of Encap Security and Feedzai allows businesses to have an intelligent approach to verifying user identity and intent without causing any pain at all – in faany pain at all – in fact we'll eliminate it."

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