Feedzai acquires Revelock to create Financial Intelligence Network (FIN) to secure cashless commerce

By Pavithra R

Feedzai, coding the future of commerce with a leading platform powered by artificial intelligence and big data, has announced its acquisition of Revelock, an advanced behavioral biometric platform.

As the digital economy evolves from barter to crypto, Feedzai recognizes that security is crucial to modern commerce, providing consumers with peace of mind when transacting online, and lowering the risk for financial institutions and merchants.

Following a $200mn investment round earlier this year, the firm’s acquisition aims to create the largest AI-powered financial risk management platform with native, integrated behavioral biometrics. The integrated platform enables global FIs and merchants to detect and prevent financial crime before it occurs. Hypergranular risk-level assessment bolsters security, maintains privacy, and gives consumers a lightning-fast experience.

The transformational combination of Feedzai and Revelock will create the largest Financial Intelligence Network (FIN), a vault of more than a trillion data points, sessions, and profiles of both good and bad actors. Feedzai Segment of One Profiling uses 150bn data points to decide if the transaction is fraud or not. To top this, Revelock brings biometric intelligence from every user, device, and session connecting to the system. Besides the addition of behavioral biometric data to its platform, Feedzai leverages AI and machine learning expertise to use enriched information in models to create predictive intelligence to stop financial crime in real-time. Feedzai provides end-to-end management of data quality, governance, and usage; keeping every user session anonymous to ensure people are treated as people and not as data points.

“Our goal has always been to make digital commerce safe for everyone. Adding Revelock to our clients’ arsenal changes the paradigm from securing transactions in real-time – something we were already doing – to effectively preventing crime before it happens. More than 20 percent of the world’s money flows through Feedzai, and we secure the bank accounts of 1 in every five people. We already knew what transactions took place for more than 800 million consumers. Revelock adds the intelligence of how a transaction takes place. Combined with the why from using Feedzai’s Responsible AI, we’re moving to the next level of machine precognition. As a result, our client’s customers have a safe pass throughout their entire digital commerce journey, making their experience faster, more private, and more secure,” said Nuno Sebastiao, CEO of Feedzai.

Revelock technology enhances Feedzai’s platform capabilities by providing a robust digital identity solution using state-of-the-art behavioral analytics powered by deep learning. Feedzai offers comprehensive global intelligence, natively integrated into the platform in a single solution. The company touts that this critical addition to the Feedzai platform makes it the first end-to-end risk management platform for prevention, detection, remediation, and compliance that will improve the user experience while minimizing the burden on anti-fraud and anti-money laundering (AML) teams.

The Feedzai platform, with Revelock, provides customers with the following benefits:

• Holistic financial risk management that scales exponentially as business grows and minimizes capital and operating expenses
• Comprehensive models, rules, labels, and reports that leverage behavioral biometric intelligence from day one
• Unprecedented speed, refinement, and fidelity for the entire risk journey
• Visual modeling so analysts can easily make connections between seemingly disparate fraud events and link the devices used in those events
• Faster investigations enabled by the depth of data at the analyst’s fingertips
• Frictionless, silent, and transparent customer experience
• Seamless integration into Feedzai’s platform with a single UX and UI

“We created Revelock to help commerce enablers identify whether you are really you when you’re transacting online. With its hypergranular, anonymized profiles, Revelock’s technology is capable of detecting the subtle changes in user behavior – such as differences in how you hold your phone or how quickly you navigate a banking app – and predict with confidence whether a session should or shouldn’t be trusted. It can identify bad intentions even from a single keystroke and stop fraud before it occurs, all while safeguarding your privacy and anonymity, even from the people that are protecting you.
We are thrilled to see our technology come to its full market potential when fused with Feedzai’s AI expertise, where the combination of our technologies is pushing the boundaries of what can be done to secure modern commerce,” said Pablo de la Riva, CEO of Revelock.