TSYS is a leading global provider of seamless, secure and innovative solutions to payment card issuers — financial institutions and retail companies — in approximately 80 countries worldwide. With nearly 200 clients, and more than 638 million traditional accounts on file, TSYS succeeds by putting people and their needs at the heart of every decision to help them unlock payment possibilities. It's an approach TSYS calls People-Centered Payments®. TSYS is a Global Payments company (NYSE: GPN), tsys.com.
COLUMBUS, Ga., May 19, 2016 — TSYS® (NYSE: TSS), today announced an agreement with Featurespace™, a global leader in adaptive behavioral analytics, that will reduce fraud for its clients with a revolutionary machine learning software system — the ARIC platform — that monitors every individual — one customer at a time — to deliver real-time decision capabilities.
“We will incorporate these capabilities across the credit risk lifecycle, enabling our issuers to catch more fraudulent transactions while dramatically reducing false-positive alerts for genuine transactions — a sharp contrast to the industry paradigm of blocking more valid transactions in order to detect actual fraudulent activity” said Andrew Mathieson, group executive, issuer product group, TSYS.
The new agreement allows TSYS to strengthen its position in faster payments by leveraging machine learning to provide clients with actionable insights in real time, using adaptive behavioral analytics that result in operational efficiencies.
“TSYS has a long-standing leadership position in authorization processing and fraud management and we are excited to integrate our ARIC platform for TSYS’ clients,” said Martina King, chief executive officer, Featurespace. “We are proud to be working with TSYS to deliver world-leading machine learning fraud protection and exceptional customer management to their clients.”
The collaboration with Featurespace is yet another example of TSYS’ partner-centric approach with new, innovative technology partners, particularly in the fraud- and risk-management space. Earlier this year, TSYS announced the TSYS Transaction Recovery Network, powered by Ethoca, to enable card issuers and e-commerce merchants to stop online fraud, recover lost revenue, and eliminate chargebacks by providing merchants with immediate notification of confirmed fraud.
“TSYS’ collaboration with Featurespace resulted in the TSYS Foresight ScoreSM, a best-of-breed fraud detection product that offers unprecedented precision in fraud detection all while minimizing negative customer impact.”
David Andre, Senior Vice President, Risk & Fraud Management, TSYS