April 21, 2017

goHenry partners with Featurespace to safeguard customers

Read the industry coverage in Banking Technology, Finextra, IBS Intelligence and FinTech Finance

London, UK – goHenry, the UK's first fully digital family banking solution designed to help young people manage their money, has appointed Featurespace, the leading machine learning Adaptive Behavioural Analytics fraud prevention company, to safeguard customers’ accounts and reduce fraudulent transactions.

Featurespace’s real-time, machine learning ARIC platform detects anomalies in individual behaviour for fraud and risk management. The ARIC platform will be integrated into goHenry’s system to provide transaction monitoring and fraud detection across the entire customer journey.

goHenry was founded with a mission to make the next generation of young people better at managing their money. It is a subscription service, which provides 6 to 18 year olds with a prepaid debit card and app with unique parental controls.

Parents can use the goHenry app to easily manage pocket money, set spending limits and rules on where the card can be used, and much more. These tools are designed to help children and teens learn to earn, save and spend responsibly, while giving parents peace of mind and an easy way to manage their children's pocket money.

By partnering with Featurespace, goHenry can ensure equally innovative full fraud and risk protection to its customers.

Louise Hill, goHenry COO, commented:

“We are delighted to be working with Featurespace to ensure that our customers are even better protected. Featurespace’s industry leading technology ensures that goHenry continues to lead the market.

Martina King, Featurespace CEO, commented:

“Protecting goHenry’s young savers from fraudsters is an inspiring application of our machine learning technology – safeguarding children’s pocket money and giving parent’s peace of mind.

“goHenry offers a unique tool for parents to teach their children to earn, save and spend responsibly and we are very proud to be providing an equally pioneering fraud prevention solution.”

Media enquiries

For more information please contact: 

Rebecca Amos
Head of Marketing  
+44 (0) 1223 345940

About Featurespace

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

About goHenry

goHenry was founded by a group of parents in order to help young people aged 6 to 18 learn good money habits. They offer a pre-paid Visa debit card and app with unique parental controls. These tools are designed to help children learn to earn, save and spend responsibly, whilst giving parents peace of mind and an easy way to pay pocket money.

With goHenry children gain independence and take responsibility for their own money, in a way individually suited to them and all under the watchful eye of a parent.

goHenry has a 4.5 start rating in both the Apple Store and GooglePlay, and 9.3/10 rating on Trust Pilot. Last year goHenry became Britain’s most successful equity crowdfunder raising £4m on Crowdcube, £2m of which came from their existing customers.

To find out more, visit www.gohenry.co.uk