Akbank selects Featurespace's ARIC Risk Hub to boost fraud protection

Tuesday 22 September 2020 13:00 CET | News

Featurespace, provider of enterprise financial crime prevention software has announced that Turkey-based Akbank has selected the ARIC Risk Hub to reduce fraud risk.

Akbank sought to replace its existing system with an advanced platform that provides real-time enterprise-wide fraud detection. Featurespace has partnered with DVA Bilgi Teknolojileri A.Ş. to implement ARIC Risk Hub, which will safeguard every transaction across all of the bank's channels, while also reducing the number of good transactions that are mistakenly blocked. 

Powered by Adaptive Behavioral Analytics, a Featurespace invention, ARIC Risk Hub is a fraud detection and financial crime prevention platform with adaptive machine learning models that deliver real-time transaction monitoring for fraud and financial crime. This allows banks and payment providers to spot more fraud and suspicious activity as it happens, while also reducing the number of genuine transactions declined. 

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Keywords: Akbank, Featurespace, fraud protection, partnership, Turkey, transaction decline, DVA Bilgi Teknolojileri, fraud detection, ARIC Risk Hub
Categories: Fraud & Financial Crime
Countries: Turkey
This article is part of category

Fraud & Financial Crime

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