Feedzai, a pioneer in applying artificial intelligence for financial crime prevention, has reaffirmed its collaboration with UK Finance, taking the lead sponsorship role for the highly anticipated 2024 Annual Fraud Report. This partnership marks the second consecutive year Feedzai has committed to spearheading this crucial industry report, aiming to illuminate the prevailing fraud trends within the UK’s banking and finance sectors while prioritizing consumer protection against fraud and financial crime.
Insightful Collaboration to Combat Fraud
Central to this year’s report is the aggregation and analysis of comprehensive fraud-related data, sourced from some of UK Finance’s largest member institutions combined with Feedzai’s unparalleled expertise in fraud detection. Pedro Barata, Feedzai’s Chief Product Officer, underscored the importance of this partnership, highlighting the company’s dedication to leading the charge against financial crime. Lee Hopley, Director of Economic Insight and Research at UK Finance, echoed Barata’s sentiments, stressing the critical role of this collaborative effort in addressing and mitigating financial crime across the UK.
Emerging Trends and Fraud Dynamics
The 2024 Annual Fraud Report promises to delve deep into the current state of fraud within the banking and financial services industry, examining the intricacies of fraud case numbers and the financial impact of fraud losses in the UK. Beyond mere statistics, the report aims to uncover emerging fraud trends and specific occurrences of fraud, providing a detailed landscape for professionals seeking to navigate and counteract these challenges.
Commitment to Financial Crime Prevention
Feedzai’s continued partnership with UK Finance for the annual report not only reinforces the company’s commitment to combating financial crime but also serves as a testament to their leading role in the industry. The collaborative effort between Feedzai and UK Finance is set to offer a comprehensive resource for industry professionals, equipping them with the necessary insights to understand and fight against the evolving threats of financial fraud.
This partnership, by combining the strengths of Feedzai’s AI-driven financial crime detection capabilities with UK Finance’s industry-wide perspective, aims to foster a more secure financial environment for consumers, ensuring their protection against the increasingly sophisticated landscape of financial fraud.
