The real-time machine learning solution from Featurespace has been recognised as Anti-fraud Solution of the Year.
The FStech Awards, now in their 18th year, recognise excellence and innovation in the field of information technology within the UK and EMEA financial services sector.
Martina King, Featurespace CEO, commented: "Our clients want to keep their own customers safe from fraud attacks and we continue to innovate and develop our world-class product to defend them.
On behalf of our customers, this award recognises the impact that our real-time, machine learning, fraud prevention technology is making to the financial services industry.”
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.