Adaptive Behavorial Risk Models Automatically Protect Consumers

Adaptive Behavorial Risk Models Automatically Protect Consumers
02.06.2020 02:56 pm

Adaptive Behavorial Risk Models Automatically Protect Consumers

Fraud Detection , AML and KYC
Fraud and financial crime continue to increase during societal changes. Data has altered due to a dramatic shift in consumer spending patterns. Machine learning models traditionally created on historic data need re-training to learn new consumer behaviors and be effective at identifying fraud and financial crime and optimizing payment flow.
 
Featurespace’s customers are protected during these changes by our invention - Adaptive Behavioral Analytics - using self-learning risk models that automatically respond in real-time to changing consumer and criminal behavior to optimize acceptance rates on behalf of customers.
 
Dave Excell, Featurespace Founder, comments:  "During the shift in fraud and financial crime rates during these challenging times, Featurespace's self-learning risk models have responded autonomously and continue to deliver optimal, market-leading acceptance rates. Listening to our global customers, we know they value risk models which update automatically, so they can focus on the important task of prioritizing financial crime investigations and protecting their own customers."
 
Featurespace's market-leading models for the detection and prevention of fraud and money laundering are delivered via the ARIC™ Risk Hub, which uses real-time machine learning and unique Adaptive Behavioral Analytics to spot individual anomalies in behavior.
 
By focusing on understanding 'good' customer behavior, Featurespace’s ARIC Risk Hub dramatically reduces the volume of 'good' transactions that are blocked to stop fraud and suspicious activity (known as 'false positives') - typically by over 70%, improving customer experience.
 
To discover the full features and functionality of the ARIC Risk Hub, visit the Featurespace website and request your exclusive access.

Related News

"Facebook and Twitter need to do more to prevent cryptocurrency scams", says CoinCorner CEO

Online scams are a huge problem in many industries and the emerging Bitcoin space is no exception.

Read more »

Increased Contactless Spending Could Be Linked to Higher Fraud and Payment Disputes, Warns Global Risk Expert

Monica Eaton-Cardone, COO and Co-Founder of merchant dispute specialist, Chargebacks911, and its revolutionary new financial institution brand, Fi911, warns of... Read more »

UK Banks Outperform Rest of Europe in Reducing Card Fraud

UK banks achieved the biggest reduction in card fraud losses last year among 18 countries across Europe, according to the updated FICO European Fraud Map. More... Read more »

Online Marketplace Carousell Chooses Vonage APIs for Fraud Protection and Enhanced Communications

Vonage (Nasdaq: VG), a global leader in cloud communications helping businesses accelerate... Read more »

Modulr Becomes First Non-Bank to Launch Confirmation of Payee

The FinTech Modulr has today launched Confirmation of Payee, a fraud prevention initiative spearheaded by Pay.UK.

The feature provides an extra layer of... Read more »

Onfido Receives £5M Grant From UK Banking Competition Remedies to Improve Access to Financial Services for SMEs

Today, the Board of Banking Competition Remedies Ltd (BCR) announced it is awarding Onfido a £5M grant from the Capability and Innovation Fund Pool, which... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel