BTG Pactual launches new retail bank BTG+ and partners with Feedzai
By Pavithra R
BTG Pactual, a Brazilian financial company that operates in the markets of investment banking, has announced the launch of its new retail bank BTG+ and collaboration with Feedzai, a leading financial crime management platform to strengthen the bank’s ability to monitor financial transactions using advanced machine learning.
The partnership between the companies also includes Pix monitoring, the new instant payments system, which was introduced on November 16, 2020. Feedzai’s financial crime management platform also monitors real-time transactions through the new channel designed by the Central Bank of Brazil.
“We are excited about this partnership and this new resource to protect and improve our customer experience. We want to become one of the main retail banks in Brazil, and for that reason, we are using advanced technology that allows consumers to buy, trade, and engage with the digital economy in a straightforward and agile way,” said Rodrigo Cury, Head of BTG+.
Artificial intelligence (AI) has proven to be an excellent ally for monitoring financial crime in digital environments offering customers the benefits from a combination of speed and security in payments, P2P transactions, and account opening. BTG recognized this new technology’s value while being committed to establishing partnerships with FinTech companies that offer sophisticated products optimized for performance and scalability.
“The partnership with BTG Pactual confirms the global trend of turning giants in the financial sector into digital retail banks highly focused on offering products and an overall experience very much aligned with consumer expectations. Brazil has proved to be a market with a huge growth potential, and Brazilian consumers are “early-adopters” who are quite engaged with new payment trends,” said Nuno Pires, SVP, LATAM, at Feedzai.
Feedzai is the market leader in fighting fraud with AI. The company leverages big data, machine learning and AI to manage risk and for anti-fraud solutions. Feedzai is developing advanced AI and Engineering solutions to ensure frictionless money flows in financial services while keeping humans safe from financial crime.
IBSi Daily News Analysis
November 29, 2023
How Financial Cybersecurity landscape will evolve in 2024 with banking Trojans and direct payment attacksRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage