Martina King, CEO, Featurespace

Featurespace has announced the development of a PSD2-ready fraud solution for the protection of customers as well as for complying with new and pending regulations.

Martina King, CEO of Featurespace, said, “We have worked tirelessly with banks to build a tailor-made, compliant solution for the industry, which financial institutions can deploy quickly and be ready to protect their customers without increasing friction.”

According to the supplier, its ARIC platform, a real-time machine learning platform, is expected to be enhanced with the addition of predefined PSD2-specific data feeds and configuration. The platform will be enterprise-ready in about 3 months. The platform detects consumer anomalies and decides the process of selected transactions to Strong Customer Authentication. ARIC, as Featurespace states, utilizes Adaptive Behavioral Analytics for optimizing fraud prevention rates and reducing false positives.

ARIC platform has been deployed in organizations in a two-day implementation process through cloud delivery.

Recently, Emailage has entered into a partnership with  Featurespace in a bid to combat the growing instances of online application fraud.

by Megha Bhattacharya
Market Analyst at IBS Intelligence