Feedzai Recognized as a Top Anti-Money Laundering Solution by Leading Analyst Firm
Feedzai, the world’s first RiskOps platform for financial risk management, has been ranked among the top vendors in anti-money laundering (AML) in a Forrester report released today, “The Forrester WaveTM: Anti-Money-Laundering Solutions, Q3 2022”.
“Feedzai leverages machine learning and automation to overcome the difficulty many institutions have with legacy AML programs which operate with siloed, disparate systems creating a pixelated view of risk,” said Pedro Barata, CPO at Feedzai. “We believe our continued investment in R&D alongside our unified RiskOps-based approach across AML is why we are consistently endorsed by customers and are a strong performer in the Forrester Wave report.”
In the last year, Feedzai’s AML suite has helped customers monitor over 200 territories with over 90% precision for high-priority alerts.
Findings in The Forrester WaveTM Anti-Money-Laundering Solutions report
Feedzai received the highest possible scores in the following criteria:
- Internationalization, currencies and reporting
- Execution roadmap
- Enhancements: Watchlist management
- Supporting services: Developers
- Supporting services: Professional services
The Wave report cited “disproportionately strong development and support staffing” and also notes, “In its current AML offering, the vendor’s rule threshold, processing, and recommendation capabilities are strong.”
The analysis goes on to state, “Feedzai is a good fit for organizations looking to automate and streamline the AML model development using workflow templates and third-party risk scoring models.”
The Forrester Wave Anti-Money-Laundering Solutions, Q3 2022, reviewed 15 vendors in its assessment in a rigorous evaluation process that includes a detailed questionnaire, demos/briefings, and customer reference surveys/interviews. The resulting report is a trusted, unbiased analyst resource for organizations looking to invest in an AML solution.
Feedzai AML Suite manages AML risk across all stages of the customer lifecycle, creating a cohesive picture of risk across siloed internal and external systems. The suite includes four AML solutions in a single, unified AML compliance system:
- Know Your Customer/Customer Due Diligence with continuous risk profiling,
- Watchlist Management Customer Screening with automated watchlist monitoring,
- Watchlist Management Payment Screening with fuzzy matching to reduce false positives, and
- AML Transaction Monitoring that uses machine learning for precise risk scoring and prioritization.