BTG+, the new retail banking arm of investment bank BTG Pactual, has partnered with financial crime management platform Feedzai to boost customer experience.

Under this partnership, BTG Pactual will use Feedzai’s artificial intelligence (AI) solution to protect its retail bank’s customers and improve its customer experience.

Using machine learning, BTG+ will be able to improve its financial transactions monitoring capabilities. It will leverage Feedzai’s platform to do so.

Feedzai’s platform monitors real-time payments that are transferred through a new channel recently designed by the Central Bank of Brazil.

This channel is an instant payments scheme called Pix monitoring, which was launched by the central bank in November 2020.

Feedzai works with the largest banks and payment processors worldwide, offering protection to over 800 million individuals in 190 countries.

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Feedzai LATAM SVP Nuno Pires said: “The partnership with BTG Pactual confirms the global trend of turning giants in the financial sector into digital retail banks highly focused on offering products and an overall experience very much aligned with consumer expectations.

“Brazil has proved to be a market with a huge growth potential and Brazilian consumers are ‘early-adopters’ who are quite engaged with new payment trends.”

BTG+ head Rodrigo Cury said: “We are excited about this partnership and this new resource to protect and improve our customer experience.

“We want to become one of the main retail banks in Brazil and for that reason, we are using advanced technology that allows consumers to buy, trade, and engage with the digital economy in a straightforward and agile way.”