: The new solution will be launched in early 2023. Credit: mohamed Hassan from Pixabay.

US-based financial technology provider Jack Henry is developing a new financial crime detection platform, dubbed Jack Henry Financial Crimes Defender.

The new solution, which has been under development for over 18 months, is slated to launch in early 2023.

It is aimed at enhancing community and regional financial institutions’ ability to tackle fraud.

Jack Henry’s new cloud-native solution will be powered by Feedzai’s artificial intelligence and machine learning engine.

Feedzai is a cloud-based platform for financial risk management.

The platform will be designed to support in-depth investigations and risk mitigation strategies enabling quick decision-making to prevent fraud.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

Tick here to opt out of curated industry news, reports, and event updates from Retail Banker International.

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Jack Henry complementary solutions president Matt Riley said: “Feedzai shares our dedication to creating an open ecosystem where financial institutions have better access to the technology they need to compete.

“We are confident about the opportunity to work together and offer community and regional financial institutions the same machine learning and artificial intelligence analytics that safeguard some of the world’s largest banks and merchants.”

Feedzai CEO Nuno Sebastião said: “Providing more financial institutions with access to our next-generation AI/ML RiskOps engine through Jack Henry’s new fraud platform will elevate the industry’s fight against fraud.

“Financial institutions of all sizes will be equipped with the modern machine learning and automation tools they need, a singular view of data to minimise false positives and wasted resources, and give users a seamless and consistent experience across all capabilities and services.”

In March 2021, Feedzai achieved unicorn status following a $200m Series D round.