31 July 2018
Real-time machine learning solution recognised by UK’s most prestigious business awards
Featurespace is awarded a Queen's Award for Enterprise: Innovation. Another accolade in a string of awards this year.
Featurespace, the leading multinational machine learning company for fraud prevention and risk management, has been awarded a Queen’s Award for Enterprise in the Innovation category, announced on Her Majesty the Queen's birthday.
Established in 1965, the Queen’s Awards for Enterprise celebrates the UK’s small and medium sized businesses, recognising their contribution to international trade, innovation, sustainable development and promoting opportunity.
The Innovation category awards companies that have shown outstanding commercial success as a result of innovation, recouping its cost of development through success in the market.
Martina King, Featurespace CEO, commented:
“Our mission to protect customers the world over drives innovation at Featurespace. We are immensely proud of this recognition of the impact that our real-time fraud prevention technology is making to real people.
“This award recognises the passion of our employees and clients to defend customers. We are truly honoured to continue the inspirational legacy of our co-founder, Professor Bill Fitzgerald.”
Featurespace is the world leader in adaptive behavioural analytics, delivered via its machine learning ARIC platform. ARIC uses anomaly detection to analyse complex data streams in real time, building individual statistical profiles for each customer.
The ARIC platform models a pattern of normal or ‘good’ behaviour and detects anomalies, which enables it to identify fraud attacks as they happen, reducing the costs associated with managing fraud. Simultaneously, ARIC reduces the number of genuine transactions incorrectly declined, enabling businesses to accept more revenue.
The Award was presented to Featurespace by Julie Spence, Lord Lieutenant of Cambridgeshire, at a special presentation in Cambridge, attended by staff and friends of the company. CEO, Martina King, and Founder, Dave Excell, joined other winners at a Royal reception at Buckingham Palace hosted by The Prince of Wales.
This honour is one in a string of awards Featurespace has received so far this year: named in FT1000 Fastest Growing Companies Europe, Tech City’s Future Fifty and European Business Award’s ‘Ones to Watch’ as well as numerous financial industry awards including Cards & Payments Awards and FS Tech Awards.
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.