Citigroup, Feedzai Partner to Thwart Fraud
As the threat of cyber crime continues to grow, Citigroup had announced it is partnering with artificial-intelligence-powered fraud-detection startup Feedzai to bolster the bank’s $8.5 billion Treasury and Trade Solutions business. Citigroup processes $4 trillion in payments each day for thousands of corporations and public institutions across the world and has reported increasing threats from sophisticated cyber crooks. A record 78% of organizations fell victim to payment fraud last year, according to a 2018 survey from the Association for Financial Professionals. Source.