Citi said that its treasury solutions arm-Treasury and Trade Solutions (TTS) will be integrating with an AI-powered platform for real-time fraud detection.

Citi TTS has entered into a partnership with Feedzai for its transaction monitoring platform. The new solution will go live in 2019.

Citi will be integrating Feedzai’s transaction monitoring platform that is powered by advanced machine learning, into its own proprietary services and platforms to provide clients with control and risk management for payment transactions. In 2016, Citi Ventures had invested in Feedzai.

“Our strategic partnership with Feedzai demonstrates our deep commitment to using technology to drive innovation. With the help of Feedzai’s solution, we can scale rapidly in an effort to deliver value to our clients, allowing them to make payments securely, efficiently and without friction, across the globe,” said Manish Kohli, global head of payments and receivables, Citi TTS.

Citi said that machine learning will automatically adjust controls to monitor discrepancies and changes in client payment behavior, allowing for analysis and identification of potential anomalies in affected payments before they are sent for clearing.

“Citi is one of the most successful banks in the world for a reason, because they invest in their customers’ experience,” said Nuno Sebastiao, co-founder and chief executive officer, Feedzai. “We’re proud to continue working together to be part of that innovation that helps them to continue to show the world what world-class digital transformation for banks looks like.”


by Parnika Sokhi