Our clients deserve first class services that allow them to concentrate on the success of their core business, without worrying about ever‑evolving fraud. With Featurespace ARIC Risk Hub, we remove that worry. It’s an extremely intuitive, future-proof risk solution that allows us to protect our clients’ transactions across all verticals, facilitates faster onboarding, and supports our growth.
Enfuce is Europe’s one-stop shop for modern card issuing and payment processing. Since 2016, Enfuce has grown rapidly, now processing nearly €2 billion transactions annually for more than 16 million active card users on its platform.
In addition to established enterprises and financial institutions, Enfuce serves an increasing number of new payment brands competing to gain traction. For these start-ups, protecting end users while delivering seamless and secure payments options is instrumental to building customer trust and loyalty. If customers have a fraudulent experience early in their relationship, it’s likely that they will stop using the service.
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Banks and financial services providers need to meet customer demands for new services while also reducing operational costs.
While traditional models can be costly, innovative technologies and business models can offer cost-effective solutions that can potentially reduce costs while also meeting customer demands.
With the increasing trend of instant payment systems, the risk of fraud and financial crime is also increasing.
While traditionally, fraud and financial crime prevention were seen as a cost of doing business, rather than a revenue generator, all participants in the payment system must have accurate risk scoring to prevent fraud and scams.
Financial institutions must comply to regulations issued by governments to protect consumer data and guard against fraud.
To overcome the challenges poses by these rules, a Platform-as-a-Service (PaaS) model that provides secure, military-grade integration with modern technologies that allow for seamless authentication experiences across devices and channels is required.
Financial institutions (FIs) have inherited complex and often costly infrastructure from traditional payment systems, making it difficult to upgrade or replace.
However, new innovations in artificial machine learning and cloud technology are enabling FIs to optimize their technical resources and and provide a more cost-effective approach to payment solutions.
Consumers increasingly demand new value-added services and expect seamless and secure transactions instantly.
Traditional banks face challenges in digitizing their operations securely; however, a Platform-as-a-Service (PaaS) model empowers FIs to evolve rapidly and iterate, update and test new features, processes or capabilities in hours, rather than weeks.
Enfuce sought a flexible fraud prevention that could quickly integrate with its cloud-based payments platform. Enfuce selected Featurespace’s ARIC Risk Hub to embed into their platform.
ARIC Risk Hub matched the scale and complexity of Enfuce’s payment platform without throttling transactions:
Enfuce’s fraud prevention capabilities, powered by Featurespace’s technology, skilled experts, and reliable processes, enable Enfuce’s customers to focus on their core business while relying on Enfuce to facilitate transactions.
Thanks to ARIC Risk Hub capabilities, Enfuce can leverage data insights from across its entire customer base to train its models, achieving greater accuracy in spotting emerging fraud trends.
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Enfuce is providing fintechs, PSPs, banks, and other financial institutions with modern and feature-rich end-customer card and payment solutions to bring to the market quickly.
Enfuce has extended its partnership with Mastercard, and has a similar partnership with VISA, stretching their Card as a Service platform across Europe.
Through these partnerships, Enfuce’s customers can launch and issue their own physical and virtual Mastercard payment cards rapidly.
ARIC Risk Hub can match the speed of issuance of these new payment products and provide an enterprise view across them to protect the new payment instruments and transactions.
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