May 19, 2016
TSYS Enhances Real-Time Fraud Capabilities with Machine Learning Technology
Collaboration with Featurespace to provide next-generation fraud detection
COLUMBUS, Ga., May 19, 2016 — TSYS® (NYSE: TSS), today announced an agreement with Featurespace™, a global leader in adaptive behavioral analytics, that will reduce fraud for its clients with a revolutionary machine learning software platform — the ARIC engine — that monitors every individual — one customer at a time — to deliver real-time decision capabilities.
“TSYS’ collaboration with Featurespace aligns with our overall strategy of integrating with advanced, innovative technology partners to help our clients grow their business, reduce costs, and deliver an exceptional customer experience,” said Andrew Mathieson, group executive, issuer product group, TSYS. “We will incorporate these capabilities across the credit risk lifecycle, enabling our issuers to catch more fraudulent transactions while dramatically reducing false-positive alerts for genuine transactions — a sharp contrast to the industry paradigm of blocking more valid transactions in order to detect actual fraudulent activity.”
The new agreement allows TSYS to strengthen its position in faster payments by leveraging machine learning to provide clients with actionable insights in real time, using adaptive behavioral analytics that result in operational efficiencies.
“TSYS has a long-standing leadership position in authorization processing and fraud management and we are excited to integrate our ARIC engine for TSYS’ clients,” said Martina King, chief executive officer, Featurespace. “We are proud to be working with TSYS to deliver world-leading machine learning fraud protection and exceptional customer management to their clients.”
The collaboration with Featurespace is yet another example of TSYS’ partner-centric approach with new, innovative technology partners, particularly in the fraud- and risk-management space. Earlier this year, TSYS announced the TSYS Transaction Recovery Network, powered by Ethoca, to enable card issuers and e-commerce merchants to stop online fraud, recover lost revenue, and eliminate chargebacks by providing merchants with immediate notification of confirmed fraud.
TSYS® (NYSE: TSS) unlocks opportunities in payments for payment providers, businesses and consumers. Our headquarters are in Columbus, Georgia, USA, and we operate in more than 80 countries with local offices across the Americas, EMEA and Asia-Pacific.
We provide seamless, secure and innovative solutions across the payments spectrum — from issuer processing and merchant acquiring to prepaid program management — delivered through partnership and expertise. We succeed because we put people, and their needs, at the heart of every decision. It’s an approach we call ‘People-Centered Payments®’.
Our industry is changing every day — and we’re leading the way toward the payments of tomorrow. We routinely post all important information on our website. For more, visit us at tsys.com.
Featurespace™ is the world-leader in Adaptive Behavioural Analytics and creator of the ARIC engine, a machine learning software platform which understands individual behaviours in real-time for decision making around fraud, risk and compliance.
Our headquarters are in Cambridge, UK, and we have deployed ARIC to organisations in the UK, USA and Europe serving over 180 countries. Customers include TSYS, Callcredit, Betfair, KPMG, Vocalink/Zapp, Camelot, and William Hill.
We provide the ARIC Fraud Hub to organisations in banking, payments, and gaming to spot new fraud attacks as they occur, reduce customer friction by reducing false fraud alerts, and improve operational efficiencies in managing fraud, risk and compliance.
We are a Gartner Cool Vendor and regularly post announcements on our website news.
Contacts for further details:
Featurespace, Head of Marketing
Featurespace, Commercial Director