Feedzai launches IQ Score

Feedzai, a leader in AI-native financial crime prevention, announced the launch of Feedzai IQ Score, a new AI-native, network-derived fraud risk scoring solution. This product, available through a single API and on AWS Marketplace, provides banks with real-time access to anonymized, aggregated insights from Feedzai's $9 trillion global transaction network. It aims to address the 'Silo and Legacy Paradox' in fraud detection, offering a solution that delivers 4x more fraud detected and 50% fewer alerts compared to traditional methods. The solution is particularly beneficial for regional and mid-sized financial institutions that may lack the internal data or AI resources for sophisticated fraud models. Pedro Barata of Feedzai emphasized the shift from isolated defense to collective insights, while Philip Mackenzie of American International Group highlighted the importance of network fraud intelligence sharing.