9 Years of Fighting Fraud Together: Learn Fiserv’s Secret

Stopping fraud is not something that an organization can do on its own. It takes strong relationships, shared knowledge, and a commitment to collaboration. That’s why Feedzai and Fiserv’s allegiance—spanning the better part of a decade—is a model for collaborative fraud prevention. Fiserv and Feedzai will reach new heights in fraud prevention with Fiserv moving to be part of Feedzai’s cloud community in early 2025.

Key Takeaways

• Feedzai strengthens Fiserv’s debit network. The results? Fewer fraud losses, happier customers.
• Proactive fraud detection with regular updates keeps Fiserv’s defenses sharp and adaptive.
• The pair’s nearly decade-long partnership provides a continuous flow of advanced fraud prevention solutions.
• Feedzai’s cloud platform delivers enhanced agility, smarter threat intelligence, and stronger fraud protection.

A Fraud Prevention Partnership Takes Shape

Fiserv, Inc., a global leader in payment and financial services technology, provides innovative solutions through its Acceptance, Fintech, and Payments segments. 

 

The relationship between Fiserv and Feedzai began in 2016, initiated through the First Data Star debit network. Over the years, the partnership expanded to include the Accel and MoneyPass debit networks reflecting the growing scope of collaboration. Feedzai’s expertise in fraud detection technology played a vital role in addressing Fiserv’s need for a robust fraud scoring solution.

New Fraud Realities Require Greater Reliability

In 2016, Fiserv faced a need to strengthen the fraud prevention capabilities within its debit networks. As fraudsters grew increasingly sophisticated and shifted their tactics, the firm realized its existing systems required a more reliable fraud score that could effectively mitigate these risks. 

The new solution had to be both scalable and adaptable to evolving fraud patterns, ensuring the protection of financial institutions using Fiserv’s debit networks.

Collaboration Moves to the Cloud

Fiserv selected Feedzai for its cutting-edge fraud detection platform, built around advanced machine learning to identify and prevent fraudulent transactions. The partnership was grounded in a shared vision of innovation and proactive collaboration. Feedzai provided Fiserv with a network predictive fraud score (NPFS) that could be refreshed at least twice a year to stay ahead of emerging threats.

“The relationship between our organizations has improved exponentially over the last three years,” said Carol Specogna, Senior Vice President and Head of Debit Networks at Fiserv. She added that Fiserv looks forward to continued collaboration with Feedzai.

In 2023, the partnership reached a significant milestone: migrating the network predictive fraud score from Fiserv’s on-premises infrastructure to Feedzai’s AWS cloud environment. This transition positioned Fiserv to leverage Feedzai’s latest advancements, enabling faster model updates, enhanced scalability, and improved agility.

You could say the partnership reached cloud nine—nine years (to date) and a successful migration to Feedzai’s cloud platform.

Feedzai-Fiserv Alliance Sets an Industry Model for Collaboration

Feedzai and Fiserv’s partnership yielded several notable developments, including:

Enhanced Debit Network Fraud Detection

Feedzai’s advanced fraud detection platform has significantly bolstered Fiserv’s debit network security. By providing a robust fraud score, Feedzai empowers Fiserv’s financial institutions to proactively identify and mitigate fraudulent transactions. 

This has resulted in a substantial reduction in fraud losses and improved customer satisfaction. Biannual updates to the fraud score ensure that it remains aligned with the latest fraud trends and is capable of delivering ongoing protection against evolving threats.

The latest fraud detection model achieved a 12% improvement in fraud detection rate, delivering significantly enhanced accuracy in identifying fraudulent transactions while maintaining a low false positive rate. This improvement is driven by increased training data, refined card-not-present features, and optimized development processes enabled by Feedzai’s advanced cloud platform, ensuring superior scalability and precision for fraud prevention.

Cloud Migration Roadmap

The upcoming migration of Fiserv’s systems to Feedzai Cloud marks a significant partnership milestone. The migration has unlocked numerous benefits, including enhanced system agility and accelerated innovation. By leveraging the scalability and flexibility of the cloud, Fiserv can now implement updates and enhancements to its NPFS more efficiently, ensuring that its fraud prevention capabilities stay ahead of emerging threats.

Resilient and Ongoing Collaboration

Over the past nine years, Feedzai has consistently maintained a strong relationship by fostering knowledge transfer and adapting to new dynamics seamlessly. This unwavering commitment to collaboration has been instrumental in driving the success of the partnership and delivering exceptional results.

Conclusion

The partnership between Fiserv and Feedzai highlights the power of collaboration in addressing complex challenges like fraud detection. By embracing innovation, maintaining open communication, and focusing on shared goals, the two companies have built a resilient and impactful relationship. 

“Our partnership is a testament to the power of industry collaboration,” said Specogna.

As the partnership evolves, Feedzai’s cloud migration and upcoming initiatives promise to further enhance Fiserv’s fraud prevention capabilities. Looking ahead, opportunities such as dedicated fraud models for high-risk merchant categories underscore the potential for continued success in this enduring collaboration.