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June 23, 2017

Israel’s Leumi Card to implement Feedzai’s AI platform to combat fraud

Leumi Card, an Israel-based consumer credit card service provider, is set to deploy Feedzai’s Artificial Intelligence (AI) solution to improve its fraud detection and prevention capabilities.

Feedzai’s technology leverages real-time machine learning that allows companies to create profiles of normal behaviour while flagging abnormal behaviours to identify and prevent criminal threats in real time with high accuracy.

Using whitebox processing, Feedzai’s AI platform also offers a human-readable semantic layer onto the underlying machine logic, putting humans in charge of the machine.

Leumi Card executive vice president of human resources and staff Gilead Kehat said: “Fraud mitigation tools have not kept pace with today’s mobile-enabled, always-connected consumers.

“Our customers demand an omnichannel experience whether it’s in person, online or via mobile devices. Feedzai’s agile machine learning platform helps predict and prevent fraud before it impacts our customers.

“We are continuing to deliver on our promise to provide the best banking experience today and into the future, by investing in tomorrow’s technology.”

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