- The market environment for payment risk solutions is taken into account in the Chartis Payment Risk Solutions, 2023: Market and Vendor Landscape Report.
- The RiskOps Platform from Feedzai outperformed 21 other suppliers in terms of completeness of offering, and Chartis declared it the category leader overall as well as in each of the three payment subcategories it evaluated.
In Chartis’s report, Payment Risk Solutions, 2023: Market and Vendor Landscape, Feedzai, the first RiskOps platform for financial risk management, was designated category leader and ranked #1 overall for Completeness of Offering.
The risk of financial crime and fraud is evaluated in the report from pre- to post-payment. The depth and breadth of product capabilities across the full payment lifecycle, as well as the underlying technology for effective data management, potent risk analytics, and an easy reporting and presentation layer, are all taken into account in Chartis’ examination of the completeness of offering.
“Chartis ranked Feedzai as a category leader in its Payment Risk report across all categories: card, account to account, and alternative payments, as well as in our overall quadrant,” stated Nick Vitchev, Research Director at Chartis. “Feedzai’s heritage, solution focus, and RiskOps platform enable it to deliver a combination of risk solutions – notably for AML and fraud – at scale and speed across a myriad of payment types and use cases, reflecting the needs of the market highlighted by our research.”
In comparison to other suppliers, Chartis emphasized Feedzai’s breadth across a variety of use cases, diversity of risk typologies, agility to address specific bank concerns as opposed to other vendors’ one size fits all approach, and its volume and processing speed. The dominance of Feedzai in Europe, followed by North America, LATAM, and APAC, distinguishes it from its rivals.
“As consumers have more alternatives for sending and receiving money, the likelihood of fraud increases.” Pedro Barata, Chief Product Officer of Feedzai, expressed his pride at being named the category’s technological leader by Chartis. “Our RiskOps approach creates a comprehensive understanding of the risk landscape and, as a result, a more effective method of identifying criminality. The analysis by Chartis is further proof that our comprehensive strategy is the greatest way to shield customers from fraudsters in real-time and on a large scale.”
Source: FinTec Buzz
