Elavon, Featurespace to provide fraud prevention and support PSD2 adoption for European merchants

With the use of Featurespace’s ARIC platform, Elavon is developing a fraud network to detect fraudulent activity using adaptive behavioural analytics. Combining the Featurespace ARIC platform and Elavon’s 3DS service allows merchants to use a layered approach to fraud prevention, as the ARIC platform uses machine learning transaction monitoring to build individual behavioural profiles for cardholders and merchants in real-time. This system works to detect anomalies and prevent fraud across all payment methods and channels.

Elavon’s fraud network comes as Europe prepares for the second Payments Services Directive (PSD2) that requires Strong Customer Authentication. The company’s network detects instances of fraud to help mitigate the need for additional security checks, which can make the online shopping experience more complicated.