London, UK: TSYS’s ForesightScoreSM, powered by Featurespace, has been recognized for outperforming industry standards, proving to be a baseline measure and standard of stability in the financial services ecosystem.
The partnership between TSYS and Featurespace was recognized for the Best Use of Payments Data or AI in Financial Services at the PAY360 Awards (previously the Emerging Payments Awards) which celebrate innovation and collaboration, recognizing companies that have made significant advances in how we pay today. Featurespace was also awarded silver for the Best Financial Crime Prevention Solution.
The Best Use of Payments Data or AI in Financial services category contenders had to prove the added value it delivers in the financial services industry in either customer service, behavioral profiling, fraud prevention or loyalty programs.
TSYS ForesightSM Score, powered by Featurespace highlighted the importance of reliable, high volume, low latency technology in keeping customers safe and businesses running, especially during unprecedented circumstances.
Throughout the pandemic, TSYS ForesightSM Score, powered by Featurespace, proved to be a baseline measure and standard of stability in the financial services ecosystem. Foresight Score is a fraud and risk scoring tool that incorporates innovative machine learning — a form of Artificial Intelligence (AI) that allows software to learn over time without being explicitly programmed — to bolster an issuer’s ability to fight transactional fraud. Built with adaptability and change in mind, TSYS ForesightSM Score continued to protect millions of people from fraud and financial crime, even as underlying transactional behaviors changed.
“Receiving recognition from such a prestigious and reputable Awards program is a great honour. Featurespace are incredibly proud of the impact our technology is having in making the world a safer place to transact despite changes in consumer behavior and market trends,” said Pat Hinchin, Chief Product Officer at Featurespace. “
Read the full story about how the partnership between TSYS and Featurespace provides an innovative payment solution built with businesses in mind.