London, Mar 17, 2021 – Telefónica Tech Ventures, Telefonica’s investment vehicle for cybersecurity, fraud and identity start-ups, announced their investment into fcase. The investment was led by Wayra UK, Telefónica´s global open innovation hub.
Bruno Moraes, Country Manager of Wayra UK comments: ”Our investment in fcase reinforces Wayra’s presence in cybersecurity and we were pleased to bring onboard such an innovative and developed solution. This collaboration, focused on business development, will help fcase experience even higher growth. They are part of our Telefonica Tech Ventures portfolio and we work very closely together scouting and investing in the cybersecurity space.
fcase is a Fraud Orchestration, Automation & Response company that helps Fraud Operation Centers orchestrate their “Resources”, “Data” and “Fraud Detection Systems”.
They have developed sophisticated Fraud Orchestration, Automation & Response technology that centralises and automates the end to end framework for fraud operation centres. Through what they have branded ‘fraud orchestration’, they unite resources, data and fraud detection systems into a single fraud and risk system.
With a unified system, enterprises have a full picture of their fraud operations, diminished operational challenges, and a superior customer experience. Not only does fcase set a new standard for fraud operations management, but it also guarantees effective customer support through its 24/7 on call system.
After receiving investment, fcase partnered and started working closely with ElevenPaths, Telefónica’s cybersecurity, fraud and identity company, also part of the Telefónica Tech holding. As the hub of talent in cybersecurity, fraud and identity, their aim is to unite game-changing businesses with strong growth opportunities. By offering innovative solutions for organisations and users, they intend on making our digital world a safer place.
Guenia Gawendo, Telefonica Ventures’ Director comments: “We are delighted to incorporate fcase into Telefónica Tech Ventures’ portfolio alongside our other outstanding companies like Devo , Nozomi or Smart Protection among others. Investment in cybersecurity startups has increased by twofold in the last few years. We see tremendous value in focusing our venture capital investments in this vertical. Investing in fcase is a perfect example of our commitment to dedicating economic resources and our privileged corporate support through our TEF network to promising ventures in the cybersecurity space.”
Emre Sayin fcase CEO comments : “The team at Telefonica is exceptional. We look forward to a constructive working relationship with Telefonica ”.
fcase is an end-to-end Fraud Orchestrator and data aggregation hub which takes fraud management systems from basic, standalone detection to an enterprise-focused approach.
This holistic view of fraud data allows standardising fraud case interaction, fraud management processes, governance models, performance and quality indicators. Its next-generation technologies aggregate distinct data platforms, collecting information from multiple fraud detection sources to manage fraudulent activity in real-time using adaptive analytics. fcase spans the entire financial crime, risk compliance, and customer care systems, centralising alerts and events into one enterprise-wide investigation platform for all fraud investigation and fraud compliance reporting needs. It consolidates multi-channel fraud data, simplifies fraud management, centralises data analytics, and significantly improves efficiency.
About Telefónica Tech Ventures
Telefónica Tech Ventures is the Venture Capital Global Vehicle for Cyber Security, founded by Telefónica Innovation Ventures and ElevenPaths, in order to invest in the best Cyber Security Start-ups and develop new business together. Promoted by ElevenPaths, Telefónica Tech’s cybersecurity company, and by Telefónica Innovation Ventures (TIV), Telefónica’s Corporate Venture Capital, it starts with a portfolio of nine invested start-ups and investment plans for up to 15 more over the next three years. Its purpose is to detect disruptive innovation in cybersecurity, particularly in the areas of threat intelligence, cloud security, data protection, and artificial intelligence applied to cybersecurity.