Following this announcement, Visa will add Featurespace’s capabilities to its range of fraud prevention and risk-scoring offerings. This process is expected to optimise its fraud protection capabilities, as well as optimise security for clients and users around the world.
In addition, both companies will continue to focus on meeting the needs, preferences, and demands of customers and partners in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
More information on Visa’s acquisition of Featurespace
Over the following months, Featurespace’s product portfolio is expected to be incorporated into Visa’s existing offerings, a process that will expand the available range of fraud prevention solutions and use cases. At the same time, the Featurespace and Visa teams will bring together their knowledge, modeling methodologies, and tools in order to further enhance the joint offering.
According to the official press release, the Featurespace business is set to be incorporated into Visa’s Risk and Identity Solutions business unit. As part of Visa, the company will be able to optimise the AI-powered fraud prevention capabilities, as well as integrate its solutions into a series of products and services that will help make the market a safer place to transact.
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