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Feedzai and CoreCarrd form fraud busting AI pact

Source: Feedzai

Feedzai, the leading provider of financial crime and risk management solutions, has partnered with CoreCard, the gold-standard international provider of prepaid and credit technology solutions and processing services to banks and the financial technology and services market.

The partnership will enhance CoreCard’s fraud detection and prevention capabilities to expand on its existing advanced spending control capabilities. The collaboration marks a significant milestone in CoreCard’s commitment to providing comprehensive, cutting-edge services to its clients and reinforcing its position as the leading card management system and processing services provider.

In today’s rapidly evolving financial landscape, the ever-increasing threat of fraud poses a significant challenge for issuing program managers. CoreCard’s partnership with Feedzai will address this challenge by offering more advanced fraud detection and prevention capabilities, using intelligent AI to monitor for and flag suspicious transactions in nano-seconds with high degrees of accuracy. CoreCard’s selection of Feedzai as a partner was guided by the high demands and expectations of its current and future clients.

CoreCard will use Feedzai’s latest AI Card Transaction feature to support clients issuing credit, debit, and prepaid cards carrying the Visa, Mastercard, Amex, and Pulse logos. The easy to use interface provides a flexible case management system for CoreCard’s processing clients. The client-specific, real-time alerts on transaction and cardholder data enables CoreCard to add predictive model-based fraud detection capabilities. The integration allows CoreCard to manage events quickly and effectively protect cardholders while minimizing friction at the point of sale.

The partnership enhances CoreCard’s longer-term strategy of extending its issuer processing capabilities to include a wider range of value-added services, providing a seamless route to a successful card program.

Brett Barrett, VP of Sales, Feedzai said: “As criminals become more sophisticated and fraud levels rise across the globe, issuers have a huge role to play in protecting consumers. That’s why our partnership with CoreCard to provide its clients with the most advanced fraud detection solutions available is so important. This collaboration underlines our commitment to delivering cutting-edge technology and reinforces our position as a trusted partner in the fight against financial crime.”

Mark Raleigh, COO of CoreCard, comments: “Feedzai’s track record of successfully delivering services to clients and its customer centric approach made them the ideal vendor. The partnership with Feedzai signifies a significant step forward in our commitment to enhancing the security and reliability of our issuer processing services. By integrating Feedzai’s state-of-the-art fraud detection capabilities into our offerings, our clients will be able to protect their cardholders while streamlining their operations.”

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