Dena Hamilton speaks to PaymentSource about fraudsters' current exploits
Featurespace discusses surging fraud as spending habits shift in a global pandemic.
PaymentsSource's Kate Fitzgerald spoke with Featurespace VP of Product, Dena Hamilton, about how the financial services industry is rethinking the way it fights fraud.
Even prior to the coronavirus outbreak, card fraud risks had been soaring, but issuers and merchants need to quickly re-think how they can protect their customers. “This is new territory for financial institutions because they're balancing the need to maintain access while new patterns are emerging," Hamilton said. "Banks and merchants must step up customer ID verification and investigate suspicious activity at a time when online shopping and loans will be critical for consumers and businesses,” she added.
Download the ARIC™ Risk Hub Brochure to read more
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
Headquartered in the U.S. and U.K. and with offices in Atlanta, Cambridge and London, Featurespace™ is the world-leader in fraud prevention and creator of the ARIC™ platform, a real-time AI machine learning software that risk scores events in more than 180 countries.
The ARIC platform combines adaptive behavioural analytics and anomaly detection to automatically identify risk and catch new attacks as they happen. The increased accuracy of understanding behavior strikes the balance between improving fraud and risk detection and operational efficiencies, while also reducing the number of genuine transactions that would be incorrectly declined by as much as 70 percent.
Michael Touchton, Featurespace
U.S. Marketing Manager
+1 (423) 364-5491