New collaboration will bolster payment flow protection and reduce fraud, offering merchants 360° monitoring to combat financial crime
Today, licensed bank and smart payments provider Credorax and risk management platform Feedzai announced a new partnership to provide Credorax merchants with advanced anti-money laundering (AML) and anti-fraud capabilities, leading to increased payment security, reduced operational costs and an improved customer experience.
The partnership between Credorax and Feedzai first began in 2018, when Credorax elected to combine its merchant acquiring technology and services with Feedzai’s advanced machine learning capabilities to protect its customers from fraud. Since then, Credorax’s merchants have been protected in real-time from threats , while improving the overall customer experience.
“Credorax has a long-standing relationship with Feedzai and we are excited to continue collaborating with a company recognised as best-in-class in the fraud and anti-money laundering market,” said Moshe Selfin, Credorax CTO &COO. “With increasing regulation in the payments ecosystem, extending the relationship to help identify and guard against money laundering is a natural step. We’re excited to work with Feedzai to drive innovation in this space.”
Credorax and Feedzai’s platform combines both AML and fraud solutions to add a crucial layer of protection to the payments flow, offering a 360° view to better monitor and combat financial crime. This partnership will allow fraud and compliance teams to share information and eliminate manual checks, thus remaining compliant at lower costs and with fewer resources.
“We are thrilled to strengthen our partnership with Credorax, as they continue to invest in future-proof technology that will protect their customers from fast-evolving threats,” said Richard Harris, EVP of Global Operations at Feedzai. “As more financial institutions move forward in their digital transformation journeys, the adoption of robust, end-to-end systems is increasing.”
