Featurespace specializes in preventing financial crime, focusing on fraud detection and Anti-Money Laundering (AML) for major financial institutions worldwide. Its main product, the ARIC™ platform, uses Adaptive Behavioral Analytics and real-time machine learning to assess risks associated with financial transactions across more than 180 countries. The platform employs advanced anomaly detection techniques to help banks and financial organizations quickly identify and respond to potential fraud and suspicious activities. Unlike many competitors, Featurespace offers a subscription-based model that provides continuous access to its software, allowing clients to maintain ongoing protection against financial crime. The company's goal is to enhance the security of financial transactions and safeguard customers from fraudulent activities.

Cambridge Capital Group

TTV Capital

Nesta Impact Investments

Imperial Innovations

Cambridge Angels

WorldPay

Touchstone Innovations

Insight Partners

Highland Europe

Jupiter Asset Management

Robert Sansom

Invoke Capital

IP Group

MissionOG

Chrysalis Investments

AI & Machine Learning

Financial Services

Featurespace

Global fraud and financial crime prevention company Featurespace’s technology has been granted a U.S. patent in the latest recognition of its world-class innovation. This patent is one in a line of over 20 patents granted or allowed over the company’s 15 year history, and is for Featurespace’s Adaptive Behavioral Analytics technology which it invented to improve fraud detection and protect customers from real-time scams by learning the behavior of genuine customers through transactional data without requiring sensitive customer information. Adaptive Behavioral Analytics is delivered through the ARIC™ platform – a real-time, machine learning software system that monitors individual behaviours to catch new fraud attacks as they happen and outsmart risk

Featurespace Granted Latest U.S. Patent, Demonstrating Continued Innovation In Fraud And Financial Crime Prevention

Featurespace was granted a U.S. patent for its adaptive behavioral analytics technology. This artificial intelligence-powered technology improves fraud detection and prevents real-time scams by learning the behavior of genuine customers through transactional data, without requiring sensitive information, the company said in a Wednesday (Dec. 11) press release. Learning that behavior provides “a baseline from which changes are identified that are often a strong indicator of fraud,” Featurespace co-founder Dave Excell said in the release

Featurespace Receives Us Patent For Ai-Powered Fraud Detection Technology

UK shoppers could face a surge in scam attempts ahead of Black Friday and Christmas, warns new research from global fraud and financial crime prevention company, Featurespace.As we approach Black Friday and the festive shopping period, nearly half (46%) of people see an increase in scam attempts around peak holiday times, with seven in ten (70%) stating they feel nervous about how sophisticated fraud techniques are becoming.With an expected spike in the number of online purchases around Black Friday and Christmas, consumers must be increasingly wary of scam attempts. Research shows that UK shoppers spent almost £10 billion online during the run-up to Black Friday (1st-24th November) last year, up by 4.7% from 2022*.Featurespace’s research also shows that more than half (55%) of people have seen an increase in scam attempts in the last 12 months and three in ten (30%) UK adults have been a victim of financial fraud over the same period.According to UK Finance, over £570 million has been stolen by fraudsters in the first half of 2024.Figures from the National Crime Agency indicate that fraud is now the most common crime in the UK, accounting for 40% of all offences recorded in England and Wales.Dave Excell, Founder of Featurespace, comments: “Fraudsters choose busy shopping moments such as Black Friday or the run-up to Christmas when consumer spending peaks to target unsuspecting victims.“Peak periods such as Black Friday sees retailers competing for the best discounts to attract buyers, providing the perfect opportunity for scams to also include ‘too good to be true’ offers to lure victims in the noise of the other offers, or with a last-minute gift or a popular item that’s quickly sold out. With this change in consumer behaviour comes increased spending and higher value purchases.”“To combat this, banks are investing in advanced anti-fraud measures and AI technologies to proactively identify and prevent fraudulent transactions, analyzing billions of transactions to stay ahead of evolving scam tactics.”Threat of social media scams on the riseThe growth in retail sales through social media platforms is also causing concern for making shoppers more susceptible to fraudsters.Research from Retail Economics and TikTok shows that 56% of UK users have made a purchase directly through social media with the social ecommerce industry worth £7.4 billion – forecast to rise to almost £116 billion in 2028.Featurespace’s research found eight in ten (80%) people are now more cautious about potential fraud or scams on social media platforms and 82% believe that social media companies should do more to stop fraudulent transactions.Enhanced cross-sector collaboration will help fight fraud. Featurespace is the latest signatory to an anti-fraud coalition led by consumer group Which? alongside leading financial institutions and telecoms providers to prioritise industry data sharing to enhance security measures and tackle fraud.As scams become more complex, almost six in ten people (57%) appreciate banks providing additional information on safeguarding against financial fraud and scams. This advice for customers can be supported by the banks’ use of technology and AI to enhance consumer protections, mitigate risk and reduce losses.Dave Excell adds: “With enhanced anti-fraud protection, comes the need that these solutions don’t slow transactions down or decline genuine payments – which impact customer experience. This is where AI holds the key – by utilising behavioural data, AI solutions empower financial institutions to identify and prevent unusual or fraudulent transactions in milliseconds while protecting consumers and considerably reducing losses for everyone affected.”Featurespace provides innovative solutions using AI and machine learning to help banks and financial institutions crack down on fraud

Black Friday Fraud Warning: Scammers Increasingly Prey On Online Shoppers

With financial institutions (FIs) fortifying their defenses and evolving their strategies against digital payment fraud, criminals are turning to a new weak spot: the customers themselves. Gone are the days of clunky phishing emails riddled with typos. Today’s fraudsters are using advanced social engineering scams to target consumers directly, leveraging fear, urgency and even fake customer service lines to dupe unsuspecting victims into handing over sensitive information. The latest PYMNTS Intelligence in “The State of Fraud and Financial Crime in the U.S.” reveals that social engineering fraud has increased by 56% in the past year. While FIs have made strides in curbing traditional digital payment fraud, the escalating sophistication of scams highlights critical gaps in their defenses

Fraudsters Shift Tactics To Customers, Challenging Financial Institutions To Innovate

Global fraud and financial crime prevention company, Featurespace, has launched a new podcast to boost awareness of rising scams and highlight approaches consumers can take to protect themselves.The new Scam Detectors podcast is hosted by technology journalist Jane Wakefield who has over 20 years’ experience at the BBC and the podcast tackles a variety of different types of scams, including delving into the sophisticated techniques fraudsters use and how banks are integrating technology to protect customers as well as tips for consumers to avoid scam attempts. The podcast can be found here: https://www.featurespace.com/newsroom/scam-detectors-podcastLaunched during BBC’s Scam Safe Week, the first episode focuses on romance scams with insight from BBC Cyber Correspondent, Joe Tidy, as well as first-hand experience of how an individual was targeted by scammers over a dating app and lost almost $60,000.This follows recent research from Featurespace and Opinium, which revealed that three in ten (30%) UK adults have been a victim of financial fraud, and more than half (55%) have seen an increase in the number of scam attempts in the last 12 months.Data from the National Crime Agency shows that fraud is now the most common crime in the UK, accounting for 40% of all offences recorded in England and Wales – whilst UK Finance figures show that almost £1.2 billion was lost to fraud in the UK last year.As a result of rising fraud levels, nearly all adults in the UK (94%) now say they are taking additional steps to avoid falling victim to scams.Banks are conscious of the role they must play in recovering customer funds after scams, and the impact it has both financially and emotionally for scam victims. Two-thirds (68%) of people in the UK who have been scammed say they are happy with the level of support provided by their bank.As scams become more complex, almost six in ten people in the UK (57%) appreciate banks providing additional information on safeguarding against financial fraud and scams – this type of information can be supported by the banks’ use of cutting-edge technology to provide additional intelligence and more sophisticated scores.These numbers are echoed in the US, where research commissioned by Featurespace and conducted by PYMNTS Intelligence saw that 3 in 10 US consumers have been scammed in the last 5 years, with US scam victims losing on average $545.The report finds that romance scams had the largest financial impact with average losses of almost $2,000 followed by investment scams which cost US victims an average of $1,104. Romance scams also tend to be longer in duration, with scam victims making an average of 3.6 payments — nearly twice as many as other schemes.Featurespace is the latest signatory to the Which? Anti-fraud coalition which calls on the new government to make preventing fraud a national priority and to provide leadership to ensure businesses can share intelligence to better detect fraud targeting consumers. Other signatories include UK Finance, Pay.UK, NatWest and BT.Martina King, CEO of Featurespace, comments: “As scams become increasingly sophisticated, it can be hugely challenging for people to stay safe from fraudsters. This podcast will raise awareness of the rising scam threat and provide people with actionable tips to protect themselves.“Hearing first-hand accounts of how scams have impacted people’s financial, emotional and mental wellbeing is heartbreaking but also reiterates the importance of overcoming this crime.“We are grateful to our clients for all their work in protecting their customers and reducing losses for everyone affected.”Jane Wakefield, Host of Scam Detectors podcast, adds: “This podcast series provides fascinating insight into techniques of fraudsters so we can all stay one step ahead, whilst providing real-life victims the opportunity to share their experiences shedding light on this critical topic.“We also delve into the challenges financial institutions face fighting scams and the different approaches banks are taking to tackle this increasingly important issue allowing us to focus on the entire life cycle of scams with our expert guests.”Featurespace provides innovative solutions using AI and machine learning to help banks and financial institutions crack down on fraud

New Podcast Launches To Raise Awareness Of Growing Threat Of Scams

As the financial world approaches 2025, shifts in banking and payments are unfolding. In B2B, however, these advances and innovations are running into a speed bump: the prevalence of paper checks. “There’s a relatively unacceptably high level of check usage here in the United States,” Seamus Smith, executive vice president and group president at FIS, said during a discussion for “PYMNTS Outlook 2025: Navigating the Future of Banking and Payments,” emphasizing the risks of fraud and inefficiency inherent to checks

Fis Sees Cfos Moving From ‘Hindsight To Foresight’

Low-level bank employees are selling customer information to scammers, exposing a weakness in financial institutions’ risk protections.It’s a pattern cropping up at banks around the country, Bloomberg reported Monday (Dec. 30). Banks say the burden for preventing these types of scams falls to the customers themselves. But although some scams seem to target people randomly, others involve fraudsters who know a lot about their victims’ finances from the start.“The more employees there are inside a company with access to sensitive customer information, the higher the risk that access is going to be abused,” said R.J. Cross, a privacy advocate at the Public Interest Research Group, per the report. “Companies need to have technical measures in place to ensure employees and contractors can’t run off with people’s information or access data that isn’t necessary for their job duties.”Warnings about the issue aren’t new, the report said

Bank Employees Help Scammers Dig Into Customer Data

Visa has completed its acquisition of Featurespace, a company specializing in real-time AI technology for payment fraud protection. This acquisition aims to enhance Visa's fraud prevention capabilities and security for its global customers. Visa will integrate Featurespace's technologies into its fraud prevention solutions, offering improved real-time fraud detection without affecting user experience. The integration will expand Visa's fraud prevention offerings, combining advanced technology and industry expertise.

Visa Acquires Featurespace for Fraud Protection

Visa has finalized the acquisition of Featurespace, as announced in a press release not authored by Finyear.com. The editorial team selected the release for its potential informational value but clarifies that the issuer is solely responsible for its content. Finyear.com contributors' opinions are personal and may change, and the articles do not serve as investment advice. All investments carry risks, and the editorial team disclaims responsibility.

Visa Finalizes Acquisition of Featurespace

Trust is a balancing act as companies, banks and merchants collaborate to make everyday financial life and commerce a reality. Featurespace Chief Operating Officer Tim Vanderham told PYMNTS in an interview that this balance revolves around one point. “When we think of this interconnected, interwoven circle of trust,” as transactions flow domestically or globally, “the consumer has to be put at the center,” he said

Fraud Expert Claims Four Key Pillars Of Risk Threaten Consumer And Merchant Circle Of Trust

Fraud detection and AML solutions provider

Featurespace

Fraud detection and AML solutions provider

Featurespace

Fraud detection and AML solutions provider

About

Simplify's Take

What believers are saying

What critics are saying

What makes Featurespace unique

6 month growth

1 year growth

2 year growth

Recently Posted Jobs

Featurespace is Hiring for 0 Jobs on Simplify!