Feedzai Acquires DemystData: Revolutionizing AI-Driven Fraud Prevention and Data Orchestration

Feedzai, a leader in fraud prevention and financial crime solutions leveraging AI technology, has announced its acquisition of DemystData. This strategic move aims to enhance the integration of data access for financial institutions by incorporating DemystData’s innovative data orchestration tools into Feedzai’s RiskOps platform.

Streamlining Data Access with Advanced Technology

The acquisition of DemystData, recognized for its Zonic platform, is set to revolutionize the way financial institutions manage data. According to The Paypers, this integration is focused on unifying external data and artificial intelligence (AI) at scale to simplify critical processes such as:

• Know Your Customer (KYC)
• Anti-Money Laundering (AML)
• Identity Verification
• Fraud Detection

Benefits of the Acquisition

Although the financial details of the acquisition remain undisclosed, its strategic objectives are clear. Feedzai’s AI-first RiskOps platform aims to:

• Enhance real-time detection and prevention of financial crimes.
• Reduce consumer friction and improve decision-making.
• Deliver contextual intelligence across various data points including identity, credit, and behavioral insights.

DemystData’s Zonic platform will complement Feedzai’s capabilities by providing automated data orchestration, fostering seamless integration of external data sources for enhanced risk and compliance assessments.

Creating a Unified Platform for Financial Institutions

This integration allows Feedzai to merge its AI-driven risk analytics with DemystData’s robust data management features. The outcome is a single, unified platform that:

• Supports faster onboarding processes.
• Reduces false positives in fraud detection.
• Enhances customer satisfaction and retention.

By streamlining the end-to-end customer journey—from account creation to ongoing transaction monitoring—financial institutions can expect:

1. Faster risk decision-making.
2. Fewer operational bottlenecks.

Empowering Non-Technical Teams

Feedzai’s initiative also aims to empower non-technical teams within financial institutions to build and manage data workflows independently, reducing their reliance on IT departments. This improvement in operational efficiency is anticipated to yield significant benefits in fraud prevention and assist in meeting regulatory standards, such as:

• Reducing the prevalence of mule accounts.
• Combating online scams.

For further insights on advancements in financial technology and fraud prevention, visit Feedzai’s official website.