Featurespace wins award for Driving Innovation in the UK-Mexico GREAT Business Awards 2022
Winning the Driving Innovation category of the UK-Mexico GREAT Business Awards further recognises Featurespace’s commitment to making the world a safer place to transact.
Featurespace entered the Mexican market in 2017 with the goal of disrupting the seemingly endless conflict for Mexican financial institutions (FIs) to find the right balance between loss reduction, operational efficiency, regulatory compliance, and seamless client experiences in their quest to fight fraud and financial crime.
Since then, a variety of initiatives and assistance from the UK’s Department for International Trade supported the growth of Featurespace in the Mexican financial sector, bringing to the market ARIC™ Risk Hub, Featurespace’s proprietary machine learning fraud and financial crime prevention platform.
ARIC Risk Hub is designed to understand what genuine customer behaviour looks like, and as a result FIs are able to compare each event to the customer’s profile in milli-seconds, and flag anomalies in real-time.
Being awarded the Driving Innovation accolade celebrates the commitment made by Mexican FIs to fight fraud and financial fraud with the best technology available. Added to this, the award also acknowledges the value that Featurespace’s proprietary innovations, Adaptive Behavioral Analytics and Automated Deep Behavioral Networks, offers the Mexican financial sector.
Featurespace’s Automated Deep Behavioral Networks automatically identifies key features in the data without human input resulting in more accurate anomaly detection, producing a significant reduction of false positives. Purposely designed for the Card and Payments industry, Automated Deep Behavioral Networks improves fraud detection across the board by >30% over already industry leading models.
Featurespace is committed to partner with the Mexican financial services industry by continuing to deliver world class technological innovation that solves the problem of increasing fraud and financial crime, while maintaining the highest standards of customer satisfaction.