Feedzai Acquires Demyst to Enhance AI-Driven Financial Crime Prevention
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On Thu, 24 Apr, 12:01 AM UTC
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Feedzai acquires Demyst
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. This strategic move is part of Feedzai's vision to unify data orchestration and risk management into a single platform, providing financial institutions with the real-time data, analytics, and trusted artificial intelligence they need to make the best possible risk decisions. "There is no shortage of data in our industry -- the trick is how to access the right data as quickly as possible so that you can accelerate risk decisions with the fewest consumer friction points," said Nuno Sebastiao, Feedzai CEO and co-founder. "Demyst is a first mover and leader in accessing necessary data -- internal or external -- at the critical moment for any part of the user journey. Paired with Feedzai's market-leading AI, this ensures every data point is fully utilized to drive smarter and faster decisions. More broadly, this acquisition marks a pivotal moment in continuing Feedzai's evolution from a data consumer to a data provider." Together, Feedzai and Demyst deliver: A unified AI platform that seamlessly integrates data at speed via orchestration with robust fraud and financial crime prevention measures. Strengthened RiskOps lifecycle with enhanced account opening capabilities, ensuring a consistent end-to-end customer view from initial onboarding through ongoing transactions. Contextual intelligence to combine identity, credit, network, financial history, behavioral insights, and others for precise fraud prediction and prevention. Better customer experiences with faster onboarding, fewer friction points, and reduced false positives boost customer satisfaction and retention. Improved risk insights by using the right data at the right time, including shared insights from a diverse global community of banks, payment providers, and networks on fraud and financial crime. Operational efficiency for non-technical teams (product managers, business analysts) with automation to autonomously build and manage data workflows, significantly reducing IT dependency. "External data is the next frontier of business impact for financial institutions, yet it is notoriously complex, involving a labyrinth of sources for KYC/AML, identity, fraud, credit checks, and compliance," said Mark Hookey, CEO of Demyst, who will remain with Feedzai along with key members of the Demyst team. "We're thrilled to join Feedzai to bring AI and data together at scale for our customers. Together we are building the most advanced solution for customer onboarding, fraud prevention, and risk management." "An automated and efficient bank account opening process is both the first time a bank gets to know the customer as well as the first line of defense against fraud and financial crime," said Dr. Ashish Kakar, Research Financial Insights Director, IDC Asia/Pacific. "The process has to be seamless to ensure a lasting customer relationship, and at the same time, by building trust from the start, banks not only enhance customer experience, but also strengthen the integrity of the financial system. Feedzai's addition of automated data orchestration to its RiskOps Platform is a powerful combination that will benefit all customers. This should also help the regulators' cause of reducing mule accounts and scams." Feedzai was advised in this transaction by the law firms Cooley and Garrigues.
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Global Financial Crime Prevention Leader Feedzai Acquires Demyst to Break Down Data Silos and Accelerate Risk Decisions
Enter your email to get Benzinga's ultimate morning update: The PreMarket Activity Newsletter NEW YORK, SYDNEY and LISBON, Portugal , April 23, 2025 /PRNewswire/ -- Feedzai, the global leader in fraud and financial crime prevention, today announced that it has acquired Demyst, including its Zonic data workflow orchestration platform, intellectual property, and sophisticated data-integration capabilities. This strategic move is part of Feedzai's vision to unify data orchestration and risk management into a single platform, providing financial institutions with the real-time data, analytics, and trusted artificial intelligence they need to make the best possible risk decisions "There is no shortage of data in our industry -- the trick is how to access the right data as quickly as possible so that you can accelerate risk decisions with the fewest consumer friction points," said Nuno Sebastiao, Feedzai CEO and co-founder. "Demyst is a first mover and leader in accessing necessary data -- internal or external -- at the critical moment for any part of the user journey. Paired with Feedzai's market-leading AI, this ensures every data point is fully utilised to drive smarter and faster decisions. More broadly, this acquisition marks a pivotal moment in continuing Feedzai's evolution from a data consumer to a data provider." Together, Feedzai and Demyst deliver: A unified AI platform that seamlessly integrates data at speed via orchestration with robust fraud and financial crime prevention measures.Strengthened RiskOps lifecycle with enhanced account opening capabilities, ensuring a consistent end-to-end customer view from initial onboarding through ongoing transactions.Contextual intelligence to combine identity, credit, network, financial history, behavioral insights, and others for precise fraud prediction and prevention.Better customer experiences with faster onboarding, fewer friction points, and reduced false positives boost customer satisfaction and retention.Improved risk insights by using the right data at the right time, including shared insights from a diverse global community of banks, payment providers, and networks on fraud and financial crime.Operational efficiency for non-technical teams (product managers, business analysts) with automation to autonomously build and manage data workflows, significantly reducing IT dependency. "External data is the next frontier of business impact for financial institutions, yet it is notoriously complex, involving a labyrinth of sources for KYC/AML, identity, fraud, credit checks, and compliance," said Mark Hookey, CEO of Demyst, who will remain with Feedzai along with key members of the Demyst team. "We're thrilled to join Feedzai to bring AI and data together at scale for our customers. Together we are building the most advanced solution for customer onboarding, fraud prevention, and risk management.""An automated and efficient bank account opening process is both the first time a bank gets to know the customer as well as the first line of defense against fraud and financial crime," said Dr. Ashish Kakar, Research Financial Insights Director, IDC Asia/Pacific. "The process has to be seamless to ensure a lasting customer relationship, and at the same time, by building trust from the start, banks not only enhance customer experience, but also strengthen the integrity of the financial system. Feedzai's addition of automated data orchestration to its RiskOps Platform is a powerful combination that will benefit all customers. This should also help the regulators' cause of reducing mule accounts and scams." Feedzai was advised in this transaction by the law firms Cooley and Garrigues. For more information on Feedzai and Demyst, users can visit: www.feedzai.com/demyst. About Feedzai Feedzai is the world's first end-to-end financial crime prevention platform, protecting people and payments with AI-native solutions that stop fraud and financial crime. Leading financial institutions trust Feedzai to manage critical risk and compliance processes, safeguarding trillions of dollars of transactions while improving the customer experience and protecting the privacy of everyday users. For more information, users can visit feedzai.com. Feedzai pr@feedzai.com Photo: https://mma.prnewswire.com/media/2671618/Feedzai.jpg Logo: https://mma.prnewswire.com/media/2671415/Feedzai_Logo.jpg View original content to download multimedia:https://www.prnewswire.com/news-releases/global-financial-crime-prevention-leader-feedzai-acquires-demyst-to-break-down-data-silos-and-accelerate-risk-decisions-302436263.html SOURCE Feedzai Market News and Data brought to you by Benzinga APIs
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Feedzai, a leader in financial crime prevention, has acquired Demyst to integrate data orchestration with risk management, aiming to improve AI-driven decision-making in financial institutions.
Feedzai's Strategic Acquisition of Demyst
Feedzai, the global leader in fraud and financial crime prevention, has announced its acquisition of Demyst, including its Zonic data workflow orchestration platform and related intellectual property. This strategic move aims to unify data orchestration and risk management into a single platform, providing financial institutions with enhanced capabilities for real-time data analysis and AI-driven risk decisions 12.
Enhancing AI-Driven Financial Crime Prevention
The acquisition marks a significant step in Feedzai's evolution from a data consumer to a data provider. Nuno Sebastiao, Feedzai's CEO and co-founder, emphasized the importance of accessing the right data quickly to accelerate risk decisions while minimizing consumer friction points 1. By integrating Demyst's expertise in data access and orchestration with Feedzai's AI capabilities, the combined entity aims to fully utilize every data point for smarter and faster decision-making 2.
Key Benefits of the Feedzai-Demyst Integration
The merger promises several advantages for financial institutions:
- A unified AI platform that seamlessly integrates data orchestration with fraud and financial crime prevention measures 12.
- Enhanced account opening capabilities within the RiskOps lifecycle, ensuring a consistent end-to-end customer view 1.
- Improved contextual intelligence by combining various data points for precise fraud prediction and prevention 2.
- Better customer experiences through faster onboarding and reduced false positives 1.
- Enhanced risk insights leveraging a diverse global community of financial institutions 2.
- Increased operational efficiency for non-technical teams through automated data workflow management 1.
Industry Perspective and Future Outlook
Mark Hookey, CEO of Demyst, who will join Feedzai along with key team members, highlighted the complexity of external data in financial institutions and expressed enthusiasm about building an advanced solution for customer onboarding, fraud prevention, and risk management 2.
Dr. Ashish Kakar, Research Financial Insights Director at IDC Asia/Pacific, noted that the integration of automated data orchestration into Feedzai's RiskOps Platform could significantly benefit customers and aid regulators in reducing mule accounts and scams 12.
Implications for the Financial Industry
This acquisition represents a significant development in the financial technology sector, potentially setting new standards for data integration and AI-driven risk management. As financial institutions face increasing challenges in fraud prevention and regulatory compliance, solutions that can efficiently handle complex data ecosystems while providing accurate risk assessments are likely to gain prominence 12.
The move also reflects the growing importance of AI and machine learning in financial services, particularly in areas such as Know Your Customer (KYC), Anti-Money Laundering (AML), and fraud detection. By combining Feedzai's AI expertise with Demyst's data orchestration capabilities, the merged entity aims to address the intricate data needs of financial institutions more effectively 2.
Reference
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