Following this collaboration, issuers are set to benefit from a pre-integrated solution that combines credit card processing and fraud prevention capabilities.
As per the information detailed in the press release, Featurespace provides a fraud detection engine that leverages a combination of artificial intelligence, behavioural networks, and rule-based decisioning to have fraud identified without disrupting the customer experience. Its ARIC Risk Hub solution is used to keep more than 50 billion transactions safe on a yearly basis across 500 million consumers throughout 180 countries.
Zeta’s flagship next-gen credit card processing stack Zeta Tachyon enables issuers to go to market in a more expedited manner than legacy processors, launch credit card products, personalise their credit card programmes across millions of credit card holders, and develop unique IP to have their products differentiated from other issuers. The stack is built free of legacy code and is 100% cloud-native, API-first, and leverages modern micro-services architecture and zero-trust security principles.
Pre-bundled and available out-of-box with Zeta Tachyon, with no additional integration required;
Built on a proprietary adaptive behavioural analytics and machine learning engine;
Able to be ‘daisy-chained’ with issuer proprietary risk engines and models;
Offers pre-built workflows and ‘rich’ interfaces for fraud case management;
Powered by Zeta’s transaction switch that enables real-time, cooperative authorisation;
Allows configuration of custom decision rules and actions with a basis on risk scores;
Complete event-driven architecture with real-time access to all transaction and fraud events.
Commenting on the collaboration, Bhavin Turakhia, CEO and Co-founder of Zeta stated that the company saw Featurespace’s solution as being powerful, due to it being built on ‘cutting-edge’ technology and combining machine learning and behavioural analytics into a fast decision engine. Following the demands of its issuer clients, the company aimed to provide them with capabilities to iterate on their credit card products in an expedited manner to test and launch features in a matter of days. As per their statement, with their solution being available out-of-the-box for their clients, their credit card holders will be protected against current and future fraud attempts, while decreasing the number of declined genuine transactions.
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