Feedzai and Encap Security Announce Strategic Partnership

SAN MATEO, Calif., Oct. 27, 2014 /PRNewswire/ -- Feedzai, a company that uses data science and behavioral profiling to prevent fraud, and Encap Security, the mobile authentication specialist, have announced a new partnership designed to support banks and merchants in making modern banking and commerce safe. The partnership will make Feedzai's proven, machine-based fraud prevention platform compatible with Encap Security's bank-grade, smarter authentication platform.

With the partnership, the two companies expand their ecosystem of pre-integrated, compatible solutions for banks and retailers to engage and protect the new mobile-empowered consumer—whether that's for initial account opening or ongoing transacting and buying.

Feedzai uses deep behavioral profiling and big data science in its fraud management platform in order to establish a 360-degree safety net around every customer.

"Consumers are using more devices to conduct financial transactions and at the same time, are demanding more protection but with less intrusion into their commerce journey," said Nuno Sebastiao, CEO, Feedzai. "Adding smart authentication and artificially intelligent risk engines on the back end offers safety without being obtrusive and penalizing good consumers, thus making modern commerce and banking safe—whether that's online, in-person, or on mobile devices, anywhere and anytime."

Encap Security turns any personal mobile device into a security credential, eliminating the burden of costly and cumbersome customer authentication methods such as SMS codes or hardware tokens.

"Consumers deserve a safe online experience whether you're banking or making a purchase online or with your mobile device. Outdated technology such as passwords, SMS codes, and software tokens are not going to cut it," said Adam Dolby, vice president of business development, Encap Security. "It's time to think about security by focusing on the customer, not on the product. Consumers should have protection at all touch points where fraud can happen, without sacrificing security or convenience. The combination of Encap Security and Feedzai allows businesses to have an intelligent approach to verifying user identity and intent without causing any pain at all – in fact we'll eliminate it."

About Feedzai

Feedzai helps payment providers, banks and retailers prevent fraud in omnichannel commerce. Feedzai Fraud Prevention That Learns™ technology fuses big data and machine learning to allow analysts to predict and prevent electronic payment loss in real time based on behavioral analysis and understanding of the way consumers behave when they make purchases, online, in-store or from mobile devices. The software analyzes big data, including mobile and social data streams, to create deep learning profiles for each customer, merchant, location or POS device with up to a three-year history of data behind it, helping organizations mitigate risk, guard every transaction and preserve the customer experience. Feedzai is a global company, with US headquarters in San Mateo and is backed by SAP Ventures, big data investment firm Data Collective, and other international investors. Companies that rely on Feedzai include Coca-Cola, Logica, Vodafone, Ericsson, SIBs Payment Solutions, Horizon Wind Energy, and Servebase Credit Card Solutions.

To learn more about Feedzai, visit www.feedzai.com 

About Encap Security

Encap Security is the only dedicated software-based banking-grade authentication platform provider. It offers simple multi-factor authentication and digital signing for the banking and enterprise sectors. Encap turns any personal device into a security credential removing the need for cumbersome and costly SMS codes and hardware such as tokens and SIM-cards. Encap Security makes the step from username and password to convenient multi-factor security hassle-free.

Encap Security makes authentication simple for users, and enables innovation, reduces risk and drives service adoption for organizations.

Based in Oslo, Norway, and Palo Alto, USA, Encap Security's world class management team has an unrivalled pedigree in mobile banking, finance, enterprise and remote access security. The patented Encap Security Smarter Authentication solution is used by major banking institutions, enterprises and technology integrators.

To learn more about Encap Security, visit www.encapsecurity.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/feedzai-and-encap-security-announce-strategic-partnership-287875649.html

SOURCE Feedzai

Related Links

http://www.feedzai.com

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