David Excell, CTO and co-founder of Featurespace

Featurespace has entered into a partnership with Latin American credit bureau Círculo de Crédito in a bid to launch its ARIC platform in Mexico for the provision of an anti-application fraud system to the lenders. The supplier stated that ARIC platform combines Adaptive Behavioral Analytics and anomaly detection for the identification of risks and attacks.

Gustavo Lacroix, CEO of Círculo de Crédito said, “Along with our vast data set and market expertise, this product will open up new opportunities in Latin America. This partnership will result in the first Artificial Intelligence platform for anomaly detection, which will help companies optimize the way they’re fighting fraud and allow them to prosper.”

Established in 2005, Circulo de Crédito provides customer data, value-added products such as scores and customized solutions through partnerships with banks, retailers, telcos, the government, etc. in Mexico and Perú.

“Criminals are constantly trying to find ways to imitate genuine customers and the problem is growing because there are more points of attack,” said David Excell, CTO and co-founder of Featurespace. “Círculo de Crédito’s entire organization is dedicated to improving the portfolio integrity of lenders in Mexico and we’re excited to support their efforts by helping them outsmart fraud, no matter how sizable or complex the challenge.”

Recently, UK-based NatWest selected Featurespace’s ARIC platform for profiling and monitoring payments and account activity for fraud prevention.

by Megha Bhattacharya
Market Analyst at IBS Intelligence