The frictionless payments specialist Trust Payments is teaming up with Feedzai to provide its clients with better risk management services. To that end, Trust Payments will integrate Feedzai’s RiskOps solution with the rest of its portfolio to help businesses watch for signs of fraud in their online interactions with customers.
RiskOps is a cloud-based fraud prevention offering that analyzes a number of different factors to evaluate the level of risk present during a transaction. The solution can verify the device that the customer happens to be using, and leverages behavioral biometrics thanks to Feedzai’s acquisition of Revelock back in August. Revelock’s tech is able to build a profile of each user, and can notify administrators if it detects any deviations from someone’s normal patterns.
In addition to behavioral biometrics, the RiskOps solution comes with malware detection and anti-money laundering utilities. Trust Payments, meanwhile, provides a slew of banking and payments services for retailers and e-commerce companies. The two new partners announced their multi-year deal at Money20/20 Europe.
“We’re delighted to be partnering with Feedzai to ensure our vision for Converged Commerce can be backed by their robust risk management offering,” said Trust Payments Group CEO Daniel Holden. “This partnership will reinforce our commitment to a gold-standard risk framework to help deliver trusted commerce solutions to our customers around the world.”
“We are delighted that Trust Payments is implementing our RiskOps solution to ensure that their teams have a single platform to handle everything fraud and financial crime-related,” added Feedzai CEO Nuno Sebastião.
Feedzai has brought in a total of $282 million in funding, and is currently valued at $1.5 billion in its Series D phase. The company has previously reported that the recent increase in online shopping has coincided with increasing rates of fraud, with purchase schemes (in which a fraudster accepts payment for a product that doesn’t exist) being one of the more popular techniques amongst cybercriminals.