back Back

CaixaBank partners with Revelock to develop an AI-based security solution

By Joy Dumasia

September 20, 2021

Share

CaixaBank has worked together with the start-up Revelock, recently acquired by Feedzai, to develop a solution based on artificial intelligence to prevent fraud in digital banking channels. The partnership comes as part of CaixaBank’s wider strategy of collaboration with start-ups to identify key talent and accelerate innovation.

Through this partnership, CaixaBank is reinforcing its strategy of applying cutting-edge technology to digitise its processes, creating new financial services and fraud control. It is also progressing using biometrics in its security strategy, a technology that reinforces identification security while remaining transparent to the customer.

The technology, which is already integrated into CaixaBankNow, CaixaBank’s online banking platform, detects alterations in customers’ habitual patterns of behaviour during online transactions that could result from attempted fraud by cybercriminals. The solution continuously assesses users’ online interactions and compares them with risk patterns, providing greater security to all CaixaBank’s online banking users.

The project is also the result of the bank’s commitment to a strategy of collaboration with start-ups, enabling the bank to improve its agility and efficiency in innovation, speed up the time from idea to implementation, and identify talent. In turn, for start-ups, collaborating with companies like CaixaBank allows them to scale quickly. CaixaBank has been working with Revelock on digital security and fraud prevention projects since 2015.

Recently, IBS Intelligence reported that imagin, the digital services and lifestyle platform is driven by CaixaBank, Spain’s leading retail bank, which has celebrated its first anniversary since its launch as a new digital community concept, adding more than 500,000 unique users and reaching a total balance of 3.1 million imaginers. This represents a growth rate at recent highs of 20% in a single year. In the band of users over 18 years of age, growth has reached over 30% during this first year.

Previous Article

September 20, 2021

NPCI, Union Bank of India & JCB launch wellness contactless credit card

Read More
Next Article

September 20, 2021

RateGain launches Demand.AI, an AI-powered SaaS solution

Read More

IBSi Prime News

FinTech

October 21, 2021

Who are the top 10 most influential FinTech companies in 2021?

Read More
  • Daily insightful news analysis
  • Weekly snapshot of the industry deals, events & insights
  • Sectoral deep dives on the hottest FinTech trends
  • Exclusive interviews featuring c-level executives shaping the industry
  • Profiles of the most influential established and emerging companies in the sector
  • Weekly global FinTech use cases
  • Chart of the Week curated by the IBSi’s Research Team
Subscribe to Prime

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Clausematch policy portal is now streamlining compliance for 90,000 Barclays employees

Read More

Today

4 promising FinTech companies in Mexico

Read More

Today

Occam.fi and DEX aggregator MatrixSwap explore a strategic collaboration

Read More

Related Reports

Bank-wide
Sales League Table Report 2021

£1,500 / year

Know More
Market Reports
US Financial Services Technology Report 2021

£1,500 / year

Know More
Retail Banking
The Future of Digital Banking Report 2021

£1,500 / year

Know More
Wealth Management
Wealth Management & Private Banking Systems Report 2021

£1,500 / year

Know More
Wholesale Banking
Treasury and Capital Markets Systems Report 2021

£1,500 / year

Know More