Featurespace™, the leading provider of Enterprise Crime Prevention software, has been crowned “Technology Provider of the Year” at the FStech Awards, which celebrate excellence and innovation in financial services across the U.K. and EMEA.
Featurespace’s ARIC™ Risk Hub, the world leading, machine learning platform that risk scores transactions in real time to stop fraud and detect money laundering, impressed judges with its unique approach of focusing on ‘good’ customer behavior to protect against fraud and financial crime, without compromising operations or customer experience.
By combining Featurespace’s proprietary Adaptive Behavioural Analytics with world-class anomaly detection, the ARIC Risk Hub continually updates and adapts against subtle behavioral changes over time, enabling businesses to outsmart risk, protect customers and increase revenue.
At the height of COVID-19 lockdowns, Featurespace’s technology continued to outperform seamlessly despite unprecedented changes in consumer behaviors, including a drastic decrease in Card Present (CP) transactions, and a significant rise in Card-Not-Present (CNP) transactions.
“Last year was one of the most challenging times for financial technology,” said Martina King, CEO of Featurespace. “It was paramount that our system could adapt against changes in consumer payment trends, while allowing issuers to closely supervise thresholds as the volume of alerts soared. This recognition highlights our commitment to working with financial organizations around the globe to fight fraud and financial crime.”
This award marks the ninth for Featurespace this year. In addition to the awards, Featurespace filed two global patents for its newest innovations: Automated Deep Behavioral Networks, which recognize and prevent significantly more fraud cases; and the Behavioral Anomaly Score, which identifies anomalies in individual customer behavior without having any prior knowledge of contextual high-risk behavior, which appreciably amplifies the ability to identify when a person’s behavior is out of character without any labelled data.
About Featurespace – www.featurespace.com
Featurespace™ is the world leader in Enterprise Financial Crime prevention for fraud and money laundering. Featurespace invented Adaptive Behavioral Analytics and Automated Deep Behavioral Networks, both of which are available through the ARIC™ Risk Hub, a real-time machine learning platform that risk scores events to prevent fraud and financial crime.
ARIC™ Risk Hub is relied on to catch new fraud attacks and identify suspicious activity in real-time by more than 70 major global financial institutions. Publicly announced customers include HSBC, TSYS, Worldpay, NatWest Group, Contis, Danske Bank, ClearBank, AK Bank and Permanent TSB.
Michael Touchton, Featurespace
PR and Communications Manager
+1 (423) 364-5491