Formica AI 2026: Benefits, Features & Pricing

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On this page

Overview
Pricing and Plans
Features
User Reviews

Overview

Formica AI

4.9

(14)

Pricing

Pricing available upon request

About Formica AI

Formica Fraud is an all-in-one platform helping you protect your customers and employees from fraudulent activities. You can encourage your team to make data-driven decisions while analyzing millions of risky fraud cases.

By analyzing different data sources and process them all together in real-time, you can protect your customers, decrease chargeback and increase customer satisfaction. You will benefit from AI-based fraud prevention in real-time with a transparent white-box approach from rules to machine learning models.

You can analyze millions of transactions every day to protect your customers and company. With customizable business flows developed to your company needs, you can reduce capital loss and protect your reputation.

With self-learning capabilities in analyzing your customers' behavior and online activities, you deal with fewer and fewer cases every day. You can optimize your company's performance and conversion rate by reducing the stressful and inefficient fraud monitoring on your employees and risk teams.

Formica AI Screenshots

Formica AI Pricing and Plans

Starting price: Connect with an advisor for pricing

Free Trial

Free Version

Basic

Pricing available upon request

No plan information available

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Formica AI Features

Popular features found in Financial Fraud Detection
Check Fraud Detection
Custom Fraud Rules
Financial Transaction Approval
For Banking
For Insurance Industry
Internal Fraud Monitoring
More features of Formica AI
Access Management
Activity Dashboard
Activity Monitoring
Activity Tracking
AI/Machine Learning
Alerts/Escalation
Alerts/Notifications
Anomaly Detection
API
Authentication
Behavior Tracking
Case Management
Compliance Management
Customer Accounts
Data Capture and Transfer
Data Discovery
Data Import/Export
Data Mapping
Data Synchronization
Data Verification
Data Visualization
Electronic Payments
Financial Analysis
For eCommerce
Fraud Detection
Machine Learning
Monitoring
Multi-Language
Multiple Data Sources
Payment Fraud Prevention
Predictive Analytics
PSD2 Compliant
Real-time Alerts
Real-Time Analytics
Real-Time Data
Real-Time Monitoring
Real-Time Updates
Reporting/Analytics
Reporting & Statistics
Risk Alerts
Risk Analysis
Risk Assessment
SDKs
Search/Filter
Third-Party Integration
Third-Party Integrations
Transaction History
Transaction Monitoring
Workflow Management

Formica AI User Reviews

Overall Rating

4.9

Ratings Breakdown

93%

Secondary Ratings

Ease of Use

4.9

Value for money

4.8

Customer support

4.9

Functionality

4.9

Have you used Formica AI and would like to share your experience with others?

İbrahim Kudret E.

Verified reviewer

Banking

51-200 employees

Used daily for less than 6 months

Review source

Reviewed March 2025

Fraud Prevention Manager

The platform’s user-friendliness, ability to generate real-time alerts for suspicious activity and enable immediate protective action are its main highlights. Other notable features include Formica AI’s advanced rule management and easy integration.

Ratings Breakdown

Ease of use

Value for money

Customer support

Functionality

Pros:

A suitable outfit was sewn for us with Formica. Fraud operations are 24/7 operations, we wanted to be able to do this ourselves as the Fraud team without going to any IT resource or a second person and making a request. Formica provided this to us, so in the event of any fraud attempt, no matter what time we are, we can intervene immediately by the admin working in my team.

Cons:

I call for the development of the sanctions screening list and more comprehensive or updated specifications in this area.

Erdal B.

Verified reviewer

Financial Services

51-200 employees

Used daily for less than 12 months

Reviewed July 2023

Great Impact

I am well satisfied.

Ratings Breakdown

Ease of use

Value for money

Customer support

Functionality

Pros:

We easily integrated Formica tools for all of our products. It gives us chance to view all transactions regarding to current fraud patterns effectively.

Cons:

Case management screen might be more user friendly.

Reasons for switching to Formica AI

Formica is more resilient than FICO platform. Also, regarding to our budget, using formica tool is more beneficial for my company.

BÇ

Betül Ç.

Verified reviewer

Financial Services

51-200 employees

Used daily for less than 2 years

Review source

Reviewed April 2025

Head Of Compliance

It was a coincidence that we met and it was a great pleasure to get to know them on this journey as Compliance. We developed together, created together and traveled together, this is very enjoyable.

Ratings Breakdown

Ease of use

Value for money

Customer support

Functionality

Pros:

My favorite aspects of Formica and his team are their attention, interest and support, they are constantly in close contact, they develop everything instantly and prioritize customer satisfaction. My favorite aspects of the team leader, Mr. [sensitive content hidden], are his cheerful demeanor and his commitment to his program.

Cons:

There's actually nothing I don't like about it.

Sarp A.

Verified reviewer

Financial Services

1001-5000 employees

Used daily for more than 2 years

Review source

Reviewed March 2025

Fraud Prevention and Detection Director

Ratings Breakdown

Ease of use

Value for money

Customer support

Functionality

Pros:

It is possible to write much faster and more accurate rules.

Cons:

I don't think it has a weak point. Everything is as it should be.

FÖ

Ferhat Ö.

Verified reviewer

Banking

51-200 employees

Used daily for more than 2 years

Review source

Reviewed March 2025

Assistant Manager

In general , when price-performance evaluation is made , i can say the most preferable application.

Ratings Breakdown

Ease of use

Value for money

Customer support

Functionality

Pros:

I like that , the app allows you to draw every rule/scenario you need.

Cons:

I would have liked , the screens to be more user-friendly and easy to use.

Tolga D.

Verified reviewer

Banking

51-200 employees

Used daily for less than 2 years

Reviewed October 2024

Moneypay Fraud Team Leader

Formica offered us a unique experience in ease of installation and panel training. It minimized the adaptation process with its fast and proactive returns. After the installation was completed, thanks to the measures we took for the cycle, we reduced our corporate risk and took quick actions against current fraud trends.

Ratings Breakdown

Ease of use

Value for money

Customer support

Functionality

Pros:

Eliminating risk and uncertainty in your business by identifying the people behind online interactions with an automated decision-making engine. Streamlining the decision-making process.

Cons:

Company employees leaving the company and change of contact persons.

Arda A.

Verified reviewer

Banking

51-200 employees

Used daily for less than 12 months

Reviewed January 2025

Fraud Process

It made our processes very easy. It enabled us to take faster action on fraud.

Ratings Breakdown

Ease of use

Value for money

Customer support

Functionality

Pros:

Ease of use and easy access to interfaces

Cons:

It took us a while to get used to the product.

Mehmet Durak A.

Verified reviewer

Financial Services

2-10 employees

Used daily for less than 12 months

Reviewed December 2024

Formica Tool

Ratings Breakdown

Ease of use

Value for money

Customer support

Functionality

Pros:

In addition to fraud detection, ready-made AI models are available with sanction list scanning and AML monitoring functions. However, its biggest strength is its advanced case management, ready-made rule tests and easy integration.

Cons:

The sanctions screening list can be further developed.

ÖU

Özcan U.

Verified reviewer

Financial Services

201-500 employees

Used daily for less than 6 months

Reviewed December 2024

Formica makes things easier

It is extremely convenient to define and monitor separate rules for all our products, such as virtual POS, physical POS, and wallet services, through distinct tabs on the Formica platform. We can easily utilize tools for rule revisions, adding new rules, and conducting rule optimization analyses. In the event of any issue, the support team is readily accessible and highly helpful. Considering its user-friendly interface and professional team, we are pleased to have chosen Formica.

Ratings Breakdown

Ease of use

Value for money

Customer support

Functionality

Pros:

- User friendly - Easy to integrate and make new rules or revisions - Monitoring each product on different tabs but on the same platform with ease.

Cons:

We didn't experience any issues overall.

ÇD

Çağlar D.

Verified reviewer

Financial Services

51-200 employees

Used daily for less than 2 years

Reviewed April 2022

Formica Review

İt was an amazing experience, both formica and our team worked really hard to create someting else and the result was great.

Ratings Breakdown

Ease of use

Value for money

Customer support

Functionality

Pros:

The product was easy to use, user friendly and the team that help us to develop the software was helpful. It was easy to understand each other and our requests are (even if they were hard to do) always get a solution from the team.

Cons:

there are no cons at this sofware. The team was great, the software was also great and getting better everyday.

Reasons for choosing Formica AI

we almost create the tool together with formica team and they always did their best to do what we wanted from them.

Vendor Response

We'd like to thank you again for taking the time to write this review of Formica Fraud. All feedback is highly appreciated, as it enables us here at Formica AI to further develop our products and services. In addition, your review will help our future customers to make more informed purchase decisions. It is also pleasure for us to work with your team. We learned a lot from you as we continued to develop the product. And together we continue to make the FinTech world easier every day. We're very grateful for customers like you and hope you stick with us for years to come! In case you have other feedback to us, please don't hesitate to contact us at any time. Thank you again! (Adnan, Formica AI & Trlogic Information Technologies)

Replied April 2022

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