ECB Chooses Feedzai to Protect Digital Euro from Swindles

The European Central Bank picked Feedzai, a Portuguese company, to keep the upcoming digital euro safe from fraud. It's a four-year contract that could be worth up to €237 million. Feedzai, which started in 2011, will use AI to check how risky transactions are by looking at past actions and past data. They'll be working with PwC on this.

Other European companies like Capgemini Germany, equensWorldline, and Giesecke+Devrient will help with other parts of the project. The ECB wants to have two suppliers for each section. Feedzai already keeps an eye on over $8 trillion in payments each year for big banks such as Citi and Santander. Now, it's a key part of Europe's plan to control its own money.