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Feedzai Unveils AI-Powered Proactive Fraud Detection Engine- Railgun

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Feedzai, a global risk management solutions provider catering to banks, payment processors, and acquirers, has unveiled Railgun, a cutting-edge next-generation AI-engine. Railgun is engineered to proactively combat financial fraud, staying one step ahead by detecting and preventing fraudulent activities before they occur.

Conventional risk engines rely on customer profiles that encompass historical data, which is then compared to past behaviors. These profiles are stored in low-latency memory space, limiting the historical context and affecting fraud accuracy. One significant drawback of this approach is its inability to detect new fraud patterns efficiently, as updating risk profiles proves to be costly and time-consuming.

Railgun represents a cutting-edge development in the field of financial crime prevention, facilitating real-time calculations by utilizing data from extended time windows.

Key features of Railgun include:

  1. High Throughput: Railgun can effortlessly process large quantities of data, handling up to 1 million events per second without any technical limitations.
  2. Accuracy and Profile Development: Calculating metrics with precision, Railgun enables the development of new profiles. The technology also offers improved observability into backfill calculation progress.
  3. Low Latency Rule Changes: Rule changes take effect almost instantly with Railgun, reducing response times to potential threats.
  4. Omnichannel Capability: As an omnichannel solution, Railgun efficiently processes data from various sources, including digital activity, transfers, and enrichment data from partner institutions, all in real-time.
  5. Long-Term Metrics: Railgun boasts high accuracy in long-term metrics by analyzing extended periods of historical and real-time data, greatly enhancing fraud detection capabilities.

Shivam Natani, Analyst at Quadrant Knowledge Solutions, says that ” the launch of Feedzai Railgun is a significant development in the field of fraud detection. Railgun enhances financial institutions’ observability and understanding of customer behaviors, leading to more accurate detection of suspicious activities. As new fraud patterns emerge, Railgun’s ability to effortlessly process large data quantities will prove invaluable in reducing response times to potential threats, ensuring a proactive approach to fraud prevention.”

Author : Shivam Natani Analyst at Quadrant Knowledge Solutions