07 August, 2017
PwC UK and Featurespace agree alliance to combat financial crime
PwC UK, the professional services firm, has agreed a joint business relationship with Featurespace, the adaptive behavioural analytics risk prevention company, to provide client organisations with advanced technology to combat real-time financial crime attacks.
Today’s financial services organisations need a sophisticated, real-time understanding of each individual customer’s behaviour to outsmart the criminals committing illicit activity.
By working alongside Featurespace, PwC UK will be able to provide its clients with an innovative real-time machine learning technology solution for combating financial crime risk, to complement the range of other financial crime advisory services PwC offers.
Martina King, Featurespace CEO, said:
“Protecting organisations from financial crime risk is our mission. Through this agreement with PwC UK, we can help organisations to outsmart the criminals by understanding individual behaviours in real time.”
Scott Samme, Financial Crime Analytics Director at PwC, commented:
“Featurespace’s technology presents an innovative way for the Financial Services industry to prevent and detect financial crime in real time. This allows us to assist our clients to become more effective and efficient in tackling financial crime risk.”
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 TSYS®, Betfair, Vocalink Zapp, Camelot and William Hill.
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.
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