Investment from Telefonica Tech Ventures to fcase

Telefonica Tech Ventures, the investment company of Telefonica for cyber security, fraud and identity startups, announced its new investment in fcase. All investment operations and processes were managed from a single source by Wayra UK, the global open innovation center of Telefonica. Wayra UK Country Manager Bruno Moraes stated that: “Our investment in fcase will strengthen Wayra’s presence in cybersecurity. Our cooperation, which focuses on development in the upcoming period, will contribute to fcase’s reaching even higher growth rates in the market. We will work closely with Telefonica Tech Ventures, which is a part of our portfolio, to explore innovative solutions in the field of cyber security and improve our investments. fcase is an integrated orchestration, Automation and Response technology that gathers financial institutions such as ‘Fraud Operation Centers’, ‘Resources’, ‘Data’ and ‘Fraud Detection Systems’ in a single center. Thus, it is ensured that the data of financial institutions’ transaction and fraud detection systems are combined and managed in a single risk system.”

Through the investment, fcase started working closely with ElevenPaths, the cyber security company of Telefonica and also part of the Telefonica Tech holding. fcase CEO Emre Sayın made the following assessment: “In many banks, Fraud operation costs exceeded fraud detection and prevention costs. fcase is a technology that reduces banks’ fraud operation costs by 50%. It is important that our business partnership with Telefonica has turned into an investment and that they are on our board of directors. fcase is a software developed in our R&D center in Turkey in 2020, we received many project opportunities in many countries after fcase technology catching the attention of Gartner radar. I believe that we will create a great added value with the resources provided by the Telefonica team.”