everis selects Featurespace to combat fraud

Featurespace, the machine learning adaptive behavioural analytics fraud and risk management company, has been selected by everis to help banks combat payments and account fraud.

everis is a company of the NTT DATA group that offers business solutions, strategy, development and maintenance of technological applications, and outsourcing. The company is involved in the sectors of telecommunications, financial institutions, industry, utilities, energy, public administration and health.

The company conducted a thorough review of the fraud detection and prevention market and selected Featurespace’s ARIC platform for its banking clients. everis will now deliver ARIC to banks in 16 countries, including the U.K., U.S., Spain, Italy, Mexico and Brazil.

“Fraud is one of the most prominent, ubiquitous challenges that banks around the world are facing, making everis’ commitment to improve efficiencies and mitigate threats vital to the health of the industry,” said Martina King, CEO, Featurespace.

Featurespace’s ARIC platform uses machine learning to build and monitor individual behavioural profiles for customers in real time to detect anomalies and prevent fraud across all payment methods and channels.

“The application of Artificial Intelligence in financial processes is still limited,” said Sergio Hermida, manager of digital banking at everis.

“Featurespace’s machine Learning solution is one of the most advanced on the market and allows us to offer our customers technological tools for financial risk management and to significantly reduce transaction fraud.”

The ARIC Fraud Hub is deployed in some of the world’s largest banks, payment processors and merchant acquirers.