Raiffeisen Bank International (RBI) has chosen Feedzai to secure its payment channels through real-time monitoring.
The bank will leverage the vendor’s machine learning services including AutoML, automating feature engineering and other parts of the data science loop.
These products are said to boost the operational efficiency of RBI.
Additionally, the bank will also utilise Feedzai Genome, visual link analysis.
The tool is said to facilitate the bank’s process of detecting illicit patterns accurately.
RBI head of group compliance division Christoph Lehner said: “This partnership will support us in keeping up the pace in this fast-evolving banking world, especially when it comes to fighting fraud in a variety of channels and products.”
Digitisation across all segments is a priority for RBI, and the latest partnership is said to support this objective.
Feedzai CEO and co-founder Nuno Sebastiao added: “This is what it takes to turn a bank into a tech company.
“RBI is making a commitment to be a leader in digital banking across Europe.”
Earlier this year, Feedzai teamed up with machine learning tools provider DataRobot to offer an upgraded platform that will allow financial institutions to detect financial crimes.
With the partnership, financial institutions can integrate DataRobot machine learning models within the Feedzai platform.