Featurespace: The inventor of Adaptive Behavioral Analytics and Automated Deep Behavioral Networks technology for fraud and financial crime management

Machine learning tends to be more accurate in drawing insights and making predictions when large volumes of data are fed into the system. The financial services industry tends to encounter enormous volumes of data relating to daily transactions, bills, payments, vendors, and customers, which are perfect for machine learning.

Nowadays, many leading fintech and financial services companies are incorporating machine learning into their operations, resulting in a better-streamlined process, reduced risks, and better-optimized portfolios.

Featurespace’s smart technology works in exactly the same way. Using its invention – Adaptive Behavioral Analytics – it has been working with the financial services industry as a technology partner to solve a huge problem in financial crime.

Deployed on-premise or via fully hosted cloud in over 180 countries, the firm’s ARIC™ (adaptive, real-time, individual, change-identification) Risk Hub models and predicts individual behavior in real time for fraud prevention and Anti-Money Laundering. This machine learning allows computers – for the first time – to understand when an individual customer’s behavior is out of character and automatically evaluate risk.

ARIC Risk Hub

The ARIC Risk Hub is live and deployed in some of the world’s largest banks, payment processors, merchant acquirers, insurance companies and gaming organizations. ARIC Risk Hub offers multiple solutions for fraud and Anti-Money Laundering analysts to spot suspicious activity and prioritize alerts with explainable anomaly detection. At the same time, ARIC Risk Hub recognizes genuine customers without blocking their activity, reducing friction.

Working as a technology partner to the financial services industry, ARIC Risk Hub is deployed in some of the world's largest banks, payments processors and merchant acquirers.

ARIC™ for Payment Fraud Prevention

Today’s customers expect a seamless and smooth payments experience regardless of their adopted payment method. Stop fraud before a payment is even attempted and keep customers happy without unnecessary interference or wrongly declining transactions with ARIC™ Risk Hub.

Featurespace’s newly launched Automated Deep Behavioral Networks is a new deep learning approach that offers exceptional risk detection as well as reduced false positive ratios.

Payment fraud exists in many different forms. The kinds of fraud a business might be exposed to will depend on the way they make or process their payments such as Faster Payments, BACS, Zelle, ACH, SWIFT, RTP, P2P, Wire and more. ARIC Risk Hub combines data from a variety of sources, including device ID, customer behavior, and cross-channel transactions in a single solution. Powered by Featurespace patented, award-winning invention, Adaptive Behavioral Analytics technology and unique ARIC Model Definition Language (AMDL) at its core, the ARIC™ Risk Hub prevents Fraud and Financial Crime with unrivaled accuracy. In addition, Featurespace’s newly launched Automated Deep Behavioral Networks delivers stable, real-time scoring with high throughput and low latency response times for business-critical enterprises, even under surge conditions.

Let’s understand Featurespace culture in their own words…

“We cultivate an innovative, fun, and positive team atmosphere. We challenge each other to find new solutions to customer problems and our work is constantly evolving as both our business and people grow. We share an enthusiasm for technical innovation and we’re interested in the outcomes you achieve, not just the hours you put in. We work hard, but flexibly. We’re focused but we take time out to have fun as a team.

Motivated by our passion to innovate, we outsmart criminals with technology. We are dedicated to protecting our customers and supporting their drive to protect their own clients and consumers. Working to achieve these goals enables us to build a successful business, and a culture that values our customers and partners, colleagues, and connections.”

“We're globally recognized as the industry expert in combatting fraud and financial crime.”

Martina King, CEO

Martina King joined Featurespace in 2012. Formerly the Managing Director of augmented reality company Aurasma, she has an extensive career in media and technology, including leadership roles at Yahoo! Europe and Capital Radio. Under King’s leadership, Featurespace has become the world’s leading provider of Enterprise Financial Crime prevention software, risk scoring events and preventing fraud and financial crime in more than 180 countries. The company has also raised more than £100 million in funding, supporting its ongoing expansion and ability to protect more than 30 major global financial institutions, including HSBC, TSYS, Worldpay, NatWest Group, Danske Bank and ClearBank. Since 2018, she’s been honored by PaymentsSource as one of its Most Influential Women in Payments and was previously been named a “Top 40 Powerful Women in Tech” by Silicon Republic.

 ”ARIC™ Risk Hub uses advanced, explainable anomaly detection to enable financial institutions to automatically identify risk, catch new fraud attacks and identify suspicious activity in real time.”