In the payments and FinTech space, there are high end and secure financial solutions on one side and there are data breaches and fraud on the other side. No matter how secure a solution is, hackers find a way to enter the system and hack it. To prevent such fraud and risks, there are companies that provide sophisticated fraud detection solutions. One such company is Feedzai, a data science company that works with leading retailers, banks and card issuers to detect payment fraud. Feedzai uses machine learning algorithms to detect fraud in financial transactions. The company was started in Europe by aerospace engineers and data scientists. It has customers like Coca-Cola, Vodafone, Ericsson, and a few other large banking companies here in the US. Recently, the Trump Hotel Collection confirmed a year-long breach of its credit card system that may have resulted in the theft of cards used at the hotels over the past year. We had an opportunity to discuss this recent data breach incident and other frauds in the payments industry in general with the CEO of Feedzai, Nuno Sebastião via email. Here’s the transcript of the interview:
LTP: LTP has been tracking Feedzai for a long time now . What is the biggest update in the pa ...
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