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Feedzai and Matrix USA Forge a New Path in Financial Crime Prevention

In today's rapidly evolving financial landscape, the need for robust fraud prevention measures has never been more critical. A newly announced partnership between Feedzai, the premier AI-native RiskOps platform for combatting financial crime, and Matrix USA, a frontrunner in technology and advisory services for the financial sector, aims to modernize the defenses against fraud and money laundering on a global scale.

The collaboration comes in response to a pressing issue identified by Feedzai's comprehensive research — over 50% of fraudsters are already utilizing AI technologies to enhance their criminal activities. This stark statistic underscores the urgency for financial institutions to upgrade their outdated infrastructures, which often struggle against the sophisticated tactics employed by cybercriminals.

According to Lior Blik, CEO of Matrix USA, the financial sector is experiencing immense pressure to modernize its fraud prevention and anti-money laundering (AML) frameworks while maintaining operational efficiency. He notes, "Financial institutions are under tremendous pressure to modernize their fraud and AML defenses without slowing down business." By integrating Feedzai's advanced AI capabilities with the deployment expertise of Matrix USA, clients gain access to a rapid and effective solution that enhances compliance and fraud protection without sacrificing day-to-day customer service operations.

To reinforce this partnership, Feedzai and Matrix USA will establish a Center of Excellence that will serve as a hub for developing and implementing AI-driven fraud prevention and AML solutions across diverse markets. This initiative aims not only to facilitate structured methodologies but also to provide ongoing support to financial institutions grappling with the complexities of modern fraud tactics. A notable trend highlighted by Feedzai is that 53% of professionals in the anti-fraud sector might consider leaving their jobs if they lack adequate AI tools, emphasizing the critical need for advanced technologies in fighting financial crime.

Feedzai’s Co-Founder and CEO, Nuno Sebastião, remarked on the shift in the financial landscape due to AI, asserting, "AI has changed the fraud landscape forever, and financial institutions need solutions that can evolve just as quickly." The collaboration aims to translate powerful AI capabilities into practical tools for financial institutions, enabling them to combat increasingly sophisticated, AI-fueled financial crimes effectively.

As the stakes in financial crime prevention continue to rise, this partnership is a significant step forward in addressing the challenges faced by banks and other financial entities. With both companies committed to delivering innovative solutions, they provide a timely and essential service to organizations aiming to safeguard their operations against evolving threats. The initiative embodies a forward-thinking approach — combining exceptional technology with expert guidance — which, in an era dominated by digital transformation, is critical for maintaining trust and security in financial transactions.

Matrix USA brings a wealth of experience and global reach, operating in over 40 countries with a team of more than 18,000 professionals. This partnership is set to redefine the standards for how financial institutions approach fraud prevention and compliance, ensuring they do not just keep pace with criminals who leverage technology but stay a step ahead.

In conclusion, the Feedzai and Matrix USA collaboration epitomizes a concerted effort to innovate and strengthen defenses against financial crime at a time when the threats loom larger than ever. By integrating cutting-edge AI solutions into financial operations, this partnership promises to enhance security, improve customer experience, and protect the integrity of financial systems worldwide.