Unprecedented Stability in Unprecedented Times
The payments industry is at the forefront of the pandemic-induced shift in consumer spending patterns, coupled with the battle against increasing fraud attacks.
Since February 3, 2020, when the U.S. declared COVID-19 a public health emergency, there has been a significant impact on both card present (CP) and card not present (CNP) transactions, as consumers around the globe have been directed to stay indoors to minimize the spread of the virus.
Inspired by the changes in consumer behavior, we have conducted a case study in partnership with TSYS: TSYS Foresight ScoreSM Stability & Performance During COVID-19.
This joint-case study details the volatility of consumer behavior and provides graphical representations of how the TSYS Foresight ScoreSM with Featurespace quickly pivoted and performed as the pandemic emerged and progressed.
The study also shares exclusive intelligence, fraud rates and score distributions for consumer and commercial transactions, highlighting how TSYS Foresight Score SM with Featurespace adapted at the very early stages of the pandemic and continues to strengthen it's scoring capabilities.
Discover the ARIC Risk Hub
The ARIC platform combines adaptive behavioural analytics and anomaly detection to automatically identify risk and catch new attacks as they happen.
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 platform 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. Publicly announced customers include HSBC, TSYS, Worldpay, NatWest Group, Contis, Danske Bank, ClearBank and Permanent TSB.
Michael Touchton, Featurespace
U.S. Marketing Manager
+1 (423) 364-5491