The creator of the Automated Deep Behavioral Networks and Adaptive Behavioral Analytics technologies for managing financial crime and fraud
When a machine learning system is fed with a lot of data, it tends to be more accurate when deriving insights and making predictions. The financial services sector frequently deals with vast amounts of data related to regular transactions, invoices, payments, vendors, and clients, which makes it ideal for machine learning.
Machine learning is now being used in operations by a large number of top fintech and financial services organisations, which has improved workflow, decreased risk, and improved portfolio optimization.
The smart technology used by Featurespace functions exactly the same manner. It has been collaborating as a technology partner with the financial services sector to address the enormous issue of financial crime using its invention, adaptive behavioural analytics.
The company’s ARICTM (adaptive, real-time, individual, change-identification) Risk Hub is deployed on-premise or via fully hosted cloud in over 180 countries. It models and predicts individual behaviour in real time for fraud detection and anti-money laundering. For the first time ever, computers are now able to recognise when a certain customer’s behaviour is unusual and to automatically assess risk.
ARIC Risk Hub
Some of the top banks, payment processors, merchant acquirers, insurance firms, and gaming organisations in the world have the ARIC Risk Hub live and operational. For fraud and anti-money-laundering analysts, ARIC Risk Hub provides a variety of technologies that help them identify suspicious activity, prioritise warnings, and use explainable anomaly detection. At the same time, ARIC Risk Hub recognises legitimate clients without obstructing their activities, lowering friction.
ARIC Risk Hub is used by some of the biggest banks, payment processors, and merchant acquirers in the world as a technology partner for the financial services sector.
Payment Fraud Prevention Using ARICTM
No matter which payment option they use nowadays, clients demand a flawless and easy payment process. With the help of the ARICTM Risk Hub, fraud can be stopped before a transaction is even attempted, and consumers can remain satisfied without needless disruption or incorrect transaction rejection.
The recently released Automated Deep Behavioral Networks from Featurespace is a novel deep learning strategy that provides superior risk detection and lower false positive rates.
Numerous different types of payment fraud exist. Depending on how payments are made or processed, such through Faster Payments, BACS, Zelle, ACH, SWIFT, RTP, P2P, Wire, and other methods, a business may be subject to different types of fraud. ARIC Risk Hub creates a single solution by combining data from several sources, such as device ID, consumer behaviour, and cross-channel transactions. The ARICTM Risk Hub eliminates Fraud and Financial Crime with unmatched precision because to its fundamental technologies of Adaptive Behavioral Analytics technology, a patented invention by Featurespace, and unique ARIC Model Definition Language (AMDL). Additionally, even in surge conditions, Featurespace’s recently released Automated Deep Behavioral Networks provides business-critical organisations with consistent, real-time scoring with high throughput and low latency response times.
Let’s examine Featurespace culture as described by its members.
Our team environment is creative, enjoyable, and supportive. As our business and our people develop, we push one another to come up with fresh approaches to solving client challenges. We both have a passion for technological advancement, and we’re more interested in your accomplishments than just the number of hours you put in. Our work is diligent but flexible. We work hard, but we also take breaks to laugh together as a team.
Martina King, CEO
Featurespace welcomed Martina King in 2012. She has a lengthy career in media and technology, including top positions at Yahoo! Europe and Capital Radio. She was formerly the Managing Director of the augmented reality business Aurasma. Under King’s direction, Featurespace has elevated itself to the top position in the globe for enterprise financial crime prevention software, risk scoring events, and the prevention of fraud and financial crime in more than 180 nations. HSBC, TSYS, Worldpay, NatWest Group, Danske Bank, and ClearBank are just a few of the more than 30 large international financial organisations that the company is able to defend thanks to investment raised totaling more than £100 million. She has been recognised as one of PaymentsSource’s Most Influential Women in Payments since 2018.
