March 13, 2017
Featurespace to provide machine learning fraud and risk management solution to CashFlows
Cambridge, UK – Featurespace, the world-leading Adaptive Behavioural Analytics fraud prevention company, has entered into an agreement with CashFlows, the fast-growing, innovative provider of merchant payment solutions, to deliver an embedded enterprise fraud and risk management solution.
Featurespace’s real-time, machine learning platform, ARIC, will be integrated into CashFlows' issuing platform and core acquiring business. The ARIC platform will replace CashFlows’ existing system with the latest risk management technology, providing real-time transaction monitoring and business decision making.
This strategic partnership is aimed at increasing card acceptance rates for CashFlows’ merchants' customers and will provide greater security and privacy for consumers in their online transactions.
Featurespace’s machine learning fraud prevention platform will bolster CashFlows’ merchant on-boarding capabilities and will provide visibility and analytics across its merchant portfolio. The ARIC platform detects individual anomalies in behaviour to automatically evaluate risk and identify fraud in real-time, constantly analysing and adapting to new events and behaviour.
Neil Graham, CEO at CashFlows, commented:
“ I’m delighted that CashFlows will be working with Featurespace. They are an important strategic partner, as we continue to enhance our Financial Crime Detection and Risk Management capabilities.
“Featurespace are at the forefront of their industry, challenging the conventions of an ever more complex landscape. This is an instrumental relationship that will undoubtedly greatly assist CashFlows in maximising payment success for our customers and ensuring that we continue to be a safe place for our customers to do business.”
Martina King, Featurespace CEO, commented:
“We are thrilled to have been chosen as CashFlows’ partner following a competitive selection process – two great Cambridge-based companies working together to protect customers against fraud.”
For more information please contact:
Head of Marketing
+44 (0) 1223 345940
Head of Marketing
+44 (0) 7739 363267
Notes to editors:
Featurespace™ is the world-leader in Adaptive Behavioural Analytics and creator of the ARIC™ platform, a machine learning software system developed out of the University of Cambridge.
Head quartered in Cambridge, UK, Featurespace has deployed ARIC™ to organisations that have services or products deployed in over 180 countries. Customers include Betfair, Vocalink/Zapp, Camelot, William Hill, and TSYS, the largest third-party processor of Visa® and MasterCard® credit cards in the U.S.
The ARIC™ platform – a real-time, machine learning software system – monitors individual behaviours to catch new fraud attacks as they happen. The increased accuracy of understanding customer behaviour simultaneously reduces the number of genuine customers whose purchases and transactions are incorrectly declined – a solution that can save the payments industry $16bn annually.
To find out more, visit www.featurespace.com
CashFlows are leaders in payments technology, delivering solutions that maximise payments success for their customers both in the UK and internationally.
As a principal member of Visa and Mastercard since 2011, CashFlows has been at the forefront of driving innovation in payments with a portfolio enabling payment acceptance, issuing and extending into business account facilities.
To find out more, visit www.cashflows.com