LONDON–(BUSINESS WIRE)–Featurespace announces that the ARICTM platform has been selected by HSBC to support efforts to strengthen Anti-Money Laundering and fraud prevention in the insurance and retail fields respectively. HSBC joins a number of other prominent financial institutions in using Featurespace’s ARIC platform, including Worldpay, ClearBank and TSYS, among others.
These institutions are leveraging Featurespace’s Adaptive Behavioral Analytics and machine learning capabilities to monitor transactions, automatically detect anomalies in individual behavior, and prioritize alerts and predict future threats.
Martina King, CEO at Featurespace said; “In the fight against the ever-evolving threat of financial crime, collaboration is key. These firms’ application of our technology will help them in optimising the detection of suspicious activity, ultimately protecting their customers from the global impact of financial crime.”
About Featurespace
Headquartered in the U.K. and U.S. and with offices in Cambridge, London and Atlanta, Featurespace™ is the world-leader in fraud prevention and AML monitoring and creator of the ARIC™ platform, a real-time AI machine learning software that risk scores events in more than 180 countries.
The ARIC platform combines adaptive behavioral analytics and anomaly detection to automatically identify risk and catch new attacks as they happen. The increased accuracy of understanding behavior strikes the balance between improving fraud and risk detection and operational efficiencies, while also reducing the number of genuine transactions that would be incorrectly declined by as much as 70 percent. For more information, visit www.featurespace.com.
Contacts
Media Inquiries
Michael Touchton, Featurespace
PR and Communications Manager
[email protected]
+1 (423) 364-5491
