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Feedzai Concludes Record-Breaking Fiscal Year 2024: Delivering Cash-flow Positive Results with Growth Acceleration Led by 88% Growth in Behavioral Biometrics SolutionsFeedzai, a leading provider of financial crime and risk management solutions, today announced record-breaking results for its 2024 fiscal year, delivering a strong combination of revenue growth acceleration and positive free cash flow margins. Business expansion was highlighted by the rapid expansion of Feedzai's behavioral biometrics business, which grew 88% year-over-year. The global cost of online payments fraud is expected to grow by 140% by 2028, according to a recent study by Juniper Research. Against this epidemic of rising financial crime levels worldwide, regulators are increasing enforcement and penalties, resulting in growing anti-money laundering (AML) fines and compliance costs. Feedzai's RiskOps platform addresses these challenges, protecting people and payments with a comprehensive suite of AI-based solutions designed to stop fraud and financial crime. Today, Feedzai solutions help defend over 1 billion people from financial crime, safeguarding more than $6 trillion in transactions each year, while helping financial institutions reduce their growing costs of AML compliance. Feedzai's AI-based technology helps businesses fight fraud across the entire risk-cycle, from new account creation and customer onboarding, to payments and other transactions, to ongoing regulatory compliance. Feedzai closed several landmark transactions in FY24, including:
In FY24, Feedzai's product and technology excellence received significant recognition from industry analysts, including Datos Insights, Frost & Sullivan, Chartis, and Quadrant Knowledge Solutions.
Nuno Sebastiao, CEO of Feedzai, said: "The past year was a successful one for us as we've significantly expanded both our operations and product offering, while delivering strong positive cash flow. The need for our RiskOps solutions continues to grow as criminals become more sophisticated, leveraging new technologies like generative AI, and as fraud levels continue to rise globally. As a result, we're laser-focused on helping our customers succeed by providing the world's best RiskOps technology and expertise, so they can deliver innovative banking solutions secure from financial crime." Note to editors About Feedzai: Feedzai is the world's first RiskOps platform, protecting people and payments with a comprehensive suite of AI-based solutions designed to stop fraud and financial crime. Feedzai is trusted by leading financial institutions 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, visit feedzai.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240425121359/en/ |