The partnership will see novobanco implement Feedzai’s Risk-Ops platform, Digital Trust (DT), to optimise the user experience.

In addition, novobanco will adopt Feedzai’s Fraud for Banking (TFB) solutions. Both DT and TFB offer a deeper analysis of customer biometrics and behaviour network, device and threat data in real-time to identify legitimate customers and improve fraud blocking before it happens.

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Nuno Pires, global head of Sales at Feedzai, commented: “We’re proud that novobanco has selected Feedzai as a trusted partner.

“The Digital Trust and Transaction Fraud for Banking solutions which are part of our RiskOps platform will empower novobanco to further enhance its fantastic service whilst providing the highest level of financial security for its customers”, Pires added.

Feedzai: Company profile

Feedzai is a risk-management platform powered by machine learning and artificial intelligence that fights against financial crime. In May 2021, the company secured $200m in a Series D funding round led by investment firms KKR and backed by Sapphire Ventures and Citi Ventures.

According to a recent report published by Feedzai, romance scams came on top among all types of fraud, with one in ten respondents saying they have fallen victim to romance fraud, losing more than $8,400 to scammers.

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Duarte Pupo Correia, executive vice president and head of Digital Channels at novobanco, welcomed the collaboration with Feedzai.

“As a customer-centric Bank, at novobanco, we are committed to continuously improving and providing the most intuitive, appealing and secure experience for all our customers”, Correia noted. “As we continue to invest in our digital ecosystem, implementing Feedzai’s best-in-class solutions will ensure we can raise the bar to a higher level.”