The award was announced during The Card Payments Awards digital ceremony on April 29, 2021.
Featurespace s ARIC Risk Hub safeguards payments across NatWest s commercial and consumer divisions from all known fraud types, as well as new scams and attacks.
Featurespace s ARIC technology achieves this by risk scoring every event within its authorization stream and predicting individual customer behaviors.
Since deploying the ARIC Risk Hub, NatWest has achieved:
A substantial improvement in value of fraud detected
An exponential increase in scam value detection rate
Greater overall customer satisfaction
A higher Net Promoter Score (NPS) We selected Featurespace as a strategic partner as the team and their technology gave us the best understanding of NatWest s requirements to protect our customers from the harm of fraud. This award win is testament to Featurespace s excellence in this area,
Featurespace, the leading provider of Enterprise Crime Prevention software, has received the Queen's Award for Enterprise: International Trade. This is the second time the company has received a Queen's
Featurespace Launches Automated Deep Behavioral Networks
Friday, February 26, 2021 11:54AM IST (6:24AM GMT)
World leader in Enterprise Financial Crime prevention introduces a deeper layer of defense for card and payments
Singapore & London, United Kingdom & Atlanta, United States:
Today, Featurespace introduces Automated Deep Behavioral Networks for the card and payments industry, providing a deeper layer of defense to protect consumers from scams, account takeover, card and payments fraud, which cost an estimated $42 billion in 2020.
The significance of this development goes beyond the scope of addressing enterprise financial crime. It s truly the next generation of machine learning, said Dave Excell, founder of Featurespace.