Featurespace named Anti-fraud or Security Solution of the Year at FS-Tech Awards 2019
Featurespace has been awarded the Anti-fraud or Security Solution of the Year for a second year running at the FS-Tech Awards, which celebrate excellence and innovation in financial services across the UK and EMEA.
Featurespace, the leading multinational machine learning company for fraud prevention and risk management, has been named the Anti-fraud Solution of the Year for a second year at the FS-Tech Awards.
The award recognises either the best internal or external anti-fraud/security strategy implemented by a financial services company, or the best anti-fraud/security solution offered by a technology provider.
Judges were looking for a fraud system that was able to protect customers from phishing, ID theft or similarly fraudulent scams, or defend financial institutions against service attacks, money laundering or employee fraud. The winning entry was also required to demonstrate how anti-fraud technology, such as biometrics, two-factor authentication or secure internal processes, have helped protect the end user and comply with financial regulations.
The judges noted that the application of technology to create business benefits was of equal importance to the degree of protection and innovation present in the fraud solution.
Martina King, Featurespace CEO, commented:
"Our clients demand the best fraud detection and prevention for their own customers and we are delighted that our ARIC product has been recognised for its industry leadership for two consecutive years. This award is a testament to the strength of the partnerships we have built with financial organisations around the globe, as we work together to find innovative solutions in the fight against fraud and risk."
The award comes on the same night as King was named Business Person of the Year at the Cambridge News Business Excellence Awards, and just days after she was named as one of the Most Influential Women in Payments 2019.
About Featurespace - www.featurespace.com
Featurespace™ is the world-leader in Adaptive Behavioural Analytics and creator of the ARIC™ platform, a real-time, machine learning software system developed out of the University of Cambridge.
Head-quartered in Cambridge, UK, and Atlanta, GA, Featurespace has deployed ARIC to financial services and gaming organisations that have services or products deployed in over 180 countries. Customers include TSYS®, Ally Bank, Worldpay, Playtech, Paddy Power Betfair, Vocalink Zapp, CashFlows and William Hill.
The ARIC™ platform – a real-time, AI software system – monitors individual behaviours and detects anomalies to identify risk and 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.