ECB Selects Feedzai for Digital Euro Fraud Prevention Program

The European Central Bank (ECB) has selected Portuguese artificial intelligence company Feedzai to develop fraud prevention systems for its planned digital euro. This strategic move marks a significant step toward reducing the euro zone’s reliance on U.S.-dominated payment systems. 278.69 million euros in funding will be utilized over four years to build an AI-driven system that assigns risk scores to digital euro transactions.