Fraud is now a "battle of the machines" – Martina King, CEO at Featurespace. As Featurespace is named one of the UK’s Most Promising AI Startups, Martina shares with The Times how our origins in academia have led us to striking results, spotting vast amounts of hidden fraud that most banks miss. A decade ago, Featurespace picked financial crime as the best use case for our powerful Adaptive Behavioral Analytics technology. That choice has now helped hundreds of customers and millions of consumers to stay ahead of fraudsters in the new age of AI-driven financial crime. Read more here: https://lnkd.in/eKNFWW4U
Featurespace
Software Development
Cambridge, England 14,473 followers
Award-winning Adaptive Behavioral Analytics technology for fraud prevention and AML transaction monitoring.
About us
Featurespace™ is the world leader in Enterprise Financial Crime prevention for fraud and Anti-Money Laundering. Featurespace invented Adaptive Behavioral Analytics and created the ARIC™ platform, a real-time machine learning software that risk scores events in more than 180 countries to prevent fraud and financial crime. 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. More than 30 major global financial institutions are using ARIC to protect their business and their customers. Publicly announced customers include HSBC, TSYS, Worldpay, NatWest Group, Contis, Danske Bank, ClearBank and Permanent TSB. To find out more visit: www.featurespace.com
- Website
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https://bit.ly/3L00LUz
External link for Featurespace
- Industry
- Software Development
- Company size
- 201-500 employees
- Headquarters
- Cambridge, England
- Type
- Privately Held
- Founded
- 2008
- Specialties
- Fraud Prediction and Prevention, Finance, Banking, and Insurance, Security and Risk Management, Machine Learning, Adaptive Behavioural Analytics, AML, Money Laundering Prevention, Financial Crime Prevention, Payment fraud prevention, Anti Money-Laundering, Adaptive Behavioral Biometrics, Adaptive Behavioral Analytics, AI, Artificial Intelligence , Beysian Statistics, and Adaptive Rules and Models for Fraud Prevention
Locations
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Primary
140 Cambridge Science Park Road
Cambridge, England CB4 0GF, GB
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110 Bishopsgate
London, England, GB
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Featurespace, Suite 420
600 Peachtree Street NE
Atlanta, Georgia 30308, US
Employees at Featurespace
Updates
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What does it mean for a fraud model to be fair? Featurespace’s Innovation Lab answers that very question in its new paper, published this week in collaboration with Cambridge AI ethicist Dr Eleanor Drage, and PhD student Yulu (Niki) Pi. It’s the first ever systematic study of algorithmic bias for a transaction fraud model, also covering how this fairness can be measured, and how the measurement is impacted by class imbalance. The paper finds that fairness-through-unawareness does not guarantee unbiased fraud detection. As a result, it’s vital that those working across the anti-fraud ecosystem more actively measure and mitigate biases. Give the paper a read here: https://lnkd.in/eZeQeHpN
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Featurespace reposted this
Check out this fantastic opportunity in **Atlanta** at Featurespace: Senior Project Manager
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How should legal and financial crime compliance teams balance regulation and technology? Steve Goddard, Fraud Subject Matter Expert at Featurespace, speaks to Tenet 's specialist fraud solicitor Arun Chauhan - FICA, Prof.PgDip (FCC) at 12pm BST on Tuesday 10th, on readiness for upcoming regulatory deadlines, anticipating future risks, and defining what 'good' looks like. Register for the webinar here: https://lnkd.in/eGQ2pa2Y
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Featurespace reposted this
Based on news reports in the last 24hrs ⏲ , it looks like the PSR is going to drop the maximum limit on APP fraud reimbursement from £415k to £85k for when it comes into force in October in the UK 📅. The limit has been the focus of many discussions in the last year, but will the reduction have much of an impact and on who? Here is a list of who may be impacted and how: - Existing CRM participant and fraud guarantee institutions 🏛 -> little impact as already refunding over £85k - PSP with strong controls 🏦 -> reduces risk of low volume but high value claims that have a disproportionate impact due to "bad luck" - PSP with immature or weak controls 💷 -> risk is still high of multiple claims of high values although single cases may be of lower value. - Victims 😢 -> More than 99% are not impacted but a very small number of victims that lose life changing sums will still be heavily impacted, although this is better than not being reimbursed at all. - First party fraudsters 🤥 -> Little impact as likely to be focused on lower amounts to avoid suspicion. - Organised scammers 😈 -> no impact, as reimbursement is immaterial to them. Mules 🐴 -> no impact as accounts still likely to be closed, losses written off and markers added to credit files. If there is limited impact, then will lobbying for amendments continue? I think focus should still be on having customer processes ready and improving scam detection based on data driven approaches rather than focusing on limits.
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Missed out on Oasis tickets this weekend? Beware: The resale is a fraudsters' playground. Snap up tickets with confidence using our top tips below. They're based on a conversation our President of the Americas Carolyn Homberger recently had with PYMNTS. Take a look here: https://lnkd.in/ggySb863 #Oasis #tickets #scams #Featurespace
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Featurespace reposted this
Thank you, Datos Insights, for an incredible day 1 of #FinCrimeForum yesterday. The atmosphere was great, the sessions were insightful, and the conversations were inspiring. 👌 We especially enjoyed seeing Shelby Archer from SentiLink and Carolyn Homberger from Featurespace – thank you for stopping by! 👏 📍 If you're here for day 2, the Entersekt team can't wait to meet you. Visit us at booth #6.
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Featurespace reposted this
Great insights from our Head of Product Dondi Black and panelists from Deluxe and Featurespace into how technology can keep #payments safe at Fintech South. Thank you to everyone that attended their session, and thanks to the Technology Association of Georgia for hosting a wonderful event!
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Imagine if there was a single source for scam intelligence across payment rails... That's the recommendation of the Scams Information Sharing industry work group, which includes our founder David Excell. Its new report, released today, outlines that the industry should consider a solution or establish an independent information exchange framework to provide a single source for scam intelligence 🎯 This could help detect scams more quickly and avoid potentially devastating losses. It's vital work as we continue to make the world a safer place to transact. Learn more and read the full report here: https://lnkd.in/gcWutWUu #fraud #fincrime #scams #paymentsindustry #Featurespace
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Join us on Tues and Weds at Datos Insights' Financial Crime Forum in Charlotte, NC. At Booth #1, we'll be ready to talk AI, beating APP scams, and how our new collaboration with OrboGraph is set to turn the tide on check fraud - once and for all. Come along and say hi! Not going to make it? Find out more about how we make the world a safer place to transact here: https://lnkd.in/gir4c9u #FinCrimeForum #TechforGood #Scams #Fraud #Featurespace