Adaptive Behavioral Risk Models Automatically Protect Consumers
Banks, payment processors and financial institutions are combating increased criminal activity with Adaptive Behavioral Analytics
Cambridge, Atlanta, London - 2 June, 2020
Fraud and financial crime continue to increase during societal changes. Data has altered due to a dramatic shift in consumer spending patterns. Machine learning models traditionally created on historic data need re-training to learn new consumer behaviors and be effective at identifying fraud and financial crime and optimizing payment flow.
Featurespace’s customers are protected during these changes by our invention - Adaptive Behavioral Analytics - using self-learning risk models that automatically respond in real-time to changing consumer and criminal behavior to optimize acceptance rates on behalf of customers.
Dave Excell, Featurespace Founder, comments:
"With the shift in fraud and financial crime rates during these challenging times, Featurespace's self-learning risk models have responded autonomously and continue to deliver optimal, market-leading acceptance rates.
Listening to our global customers, we know they value risk models which update automatically, so they can focus on the important task of prioritizing financial crime investigations and protecting their own customers."
Featurespace's market-leading models for the detection and prevention of fraud and money laundering are delivered via the ARIC Risk Hub, which uses real-time machine learning and unique Adaptive Behavioral Analytics to spot individual anomalies in behavior.
By focusing on understanding 'good' customer behavior, Featurespace's ARIC Risk Hub dramatically reduces the volume of 'good' transactions and payments that are blocked to stop fraud and suspicious activity (known as 'false positives') - typically by over 70%, improving customer experience.
To discover the full features and functionality of the ARIC Risk Hub, request access to the full product details here.
About Featurespace – www.featurespace.com
Featurespace™ is the world leader in enterprise financial crime prevention for fraud and Anti-Money Laundering. Featurespace invented Adaptive Behavioral Analytics and created the ARIC™ platform, a real-time machine learning software that risk scores events in more than 180 countries to prevent fraud and financial crime.
ARIC™ Risk Hub uses advanced, explainable anomaly detection to enable financial institutions to automatically identify risk, catch new fraud attacks and identify suspicious activity in real-time. More than 30 major global financial institutions are using ARIC to protect their business and their customers, including 4 of the 5 largest banks in the UK. Publicly announced customers include HSBC, TSYS, Worldpay, RBS NatWest Group, Contis, Danske Bank, ClearBank, Permanent TSB and Betfair.