Feedzai teams up with UK Finance again in fraud battle  

  • Feedzai, in partnership with UK Finance for the second consecutive year, is conducting a study on AI’s role in combating financial crime, aiming to present the Annual Fraud Report 2024.
  • The Annual Fraud Report 2024 promises a thorough examination of fraud trends, estimated damages, and emerging threats, leveraging UK Finance’s extensive data network and Feedzai’s AI-driven fraud detection expertise.

Feedzai, a financial fraud detection software company, is collaborating on a study with UK Finance for the second consecutive year to investigate the use of AI in combating financial crime.

Feedzai, UK Finance collaborate on Annual Fraud Report 2024

Working in collaboration, they will present the Annual Fraud Report 2024 – a comprehensive analysis aimed at preventing fraud and safeguarding customers within the banking and financial sector of the UK.

The study claims to provide a thorough analysis of fraud incidents, estimating damages and highlights new dangers.

By leveraging UK Finance’s expansive data network and Feedzai’s expertise in artificial intelligence and financial crime detection, the partners aim to produce a comprehensive analysis of fraud trends that affect the UK.

Also read: Revolut’s AI security slashes fraud losses by 30%

Hear them out

Pedro Barata, Feedzai’s Chief Product Officer, emphasised the importance of this partnership by saying, “We are pleased to be trusted by UK Finance once again to be their partner in delivering the Annual Fraud Report, which underscores our commitment to working at the forefront of this space alongside the most reputable partners and trade bodies.”

“With financial crime evolving every single second, minute, and hour of the day, the report is a valued resource for all professionals in the banking and financial services industry looking to obtain a 360-degree view of the fraud environment.”

Additionally, Lee Hopley, Director of Economic Insight and Research at UK Finance highlights the significance of the report in the continuous fight against financial crime. “Our Annual Fraud report highlights the ever-growing issue of financial fraud, and we are looking forward to continuing our partnership with Feedzai for a second year,” said Hopley.

Sylvia-Shen

Sylvia Shen

Sylvia Shen, a news reporter at BTW media dedicated in Fintech and Blockchain. She graduated from University of California, Davis. Send tips to s.shen@btw.media.

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