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Featurespace, NatWest partner for payments fraud and financial crime solutions

Tuesday 6 October 2020 13:34 CET | News

Fraud prevention and AML software provider Featurespace has announced that UK-based bank NatWest is protecting its customers with the ARIC Risk Hub.

The software offers enterprise-wide transaction monitoring and payments fraud detection – including threats posed by Authorised Push Payments (APP) and scams. After selecting Featurespace in late 2019, NatWest completed an enterprise-wide deployment of ARIC Risk Hub in 2020 to detect anomalies and protect customers in real time by collating account-level data across all touch points, according to the official press release. 

Powered by Adaptive Behavioural Analytics, ARIC Risk Hub is an enterprise financial crime prevention platform using fully adaptive machine learning models to protect customers. Individual behavioural activity is monitored in real time, allowing financial institutions to catch more fraud and prioritise alerts of suspicious activity with greater accuracy, while reducing the number of genuine transactions declined.

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Keywords: Featurespace, NatWest, payments fraud, financial crime, ARIC Risk Hub, bank, UK, Authorised Push Payments, app, scams, fraud detection, transaction monitoring, financial crime prevention, machine learning, financial institutions
Categories: Banking & Fintech
Companies:
Countries: United Kingdom
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Banking & Fintech

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