Feedzai, a key player in the financial technology sector renowned for its sophisticated antifraud and financial crime software, has announced the appointment of David Larson as its new Chief Financial Officer. This strategic hire underscores the company’s commitment to scaling up its operations and solidifying its leadership in the RiskOps field.

David Larson, a seasoned finance executive, brings an impressive resume to the table, having honed his considerable skills over nearly 15 years at Thomson Reuters. There, he held the title of Chief Strategy Officer and played a pivotal role in fostering substantial organic growth within the company. Larson’s extensive expertise in global finance, corporate development, and mergers and acquisitions (M&A) is poised to be a significant asset for Feedzai.

Since its inception in 2011, Feedzai has developed a formidable presence in the realm of financial crime prevention. Utilizing big data and machine learning, the company’s RiskOps platform monitors and analyses transactions at an extraordinary rate, protecting about a billion people worldwide from the perils of fraud. The platform manages more than $6 trillion in payments annually, detecting fraudulent activity in real-time across 3000 transactions every second.

Headquartered in San Mateo, California, and with a significant operational base in Lisbon, Portugal, Feedzai has established a global footprint with 10 international offices and a workforce of over 600 employees. The firm has consistently been at the forefront of using artificial intelligence to combat financial crime and enhance the security of financial transactions.

Larson’s role at Thomson Reuters involved leading the creation of its Governance, Risk and Compliance division, including the critical acquisition of World-Check. This experience will be particularly relevant as Feedzai looks to expand its reach and possibly explore further M&A activities to strengthen its position as a market consolidator.

The timing of Larson’s appointment coincides with a period of robust growth for Feedzai. The company recently celebrated a record-breaking fiscal year, marked by an 88% growth in its behavioral biometrics solution—an innovative technology that enhances the detection of fraud by analyzing the physical and behavioral characteristics of users.

Nuno Sebastião, the co-founder and CEO of Feedzai, emphasized the strategic importance of Larson’s appointment. With Larson’s global leadership experience, Feedzai aims to leverage his expertise to propel the company through its next growth phase, potentially increasing its market consolidation efforts.

As financial crimes become more sophisticated and pervasive, Feedzai’s innovative solutions and Larson’s strategic acumen could be crucial in safeguarding financial ecosystems worldwide against the evolving threats posed by fraudsters. Larson himself expressed enthusiasm about his new role, highlighting the critical need for cutting-edge solutions to counteract the accelerating pace of financial crime.

By strengthening its C-suite with a leader like David Larson, Feedzai continues to reinforce its commitment to maintaining robust defenses for financial institutions globally, ensuring safe and secure financial environments for millions of users.