Featurespace makes FinTech hall of fame
Featurespace, the Cambridge UK-based provider of fraud-busting technology, has been named by CB Insights in its third annual Fintech 250 – an A-list of emerging private companies working on groundbreaking financial technology.
Featurespace was included for its use of machine learning and Adaptive Behavioural Analytics in creating and maintaining its ARIC™ Risk Hub, an innovative platform that uses advanced, explainable anomaly detection to enable financial institutions to automatically identify risk, catch new fraud attacks and identify suspicious activity in real-time.
Dave Excell, co-founder of Featurespace, said: “Fraudsters' attacks are becoming more sophisticated in targeting transactions across every channel, and all points of interaction with merchants, payment companies and financial institutions.
“It's a challenge that needs to be addressed holistically and with a technology that evolves with threats. It is that spirit of innovation that drives us to be leaders in our industry and it’s an honour to be recognized in the Fintech 250 among others who share that passion.”
CB Insights CEO Anand Sanwal said: “The previous Fintech 250 class raised more than $22 billion in investor financing and saw more than 20 exits after being recognised.
“We expect this year's class will have similar success as they continue to transform how people and businesses spend, save, borrow, and invest their money.”
Through an evidence-based approach, the CB Insights Intelligence Unit selected the Fintech 250 from a pool of 16,000 companies, including applicants and nominees, based on several factors.
These factors include patent activity, investor quality, news sentiment analysis, proprietary Mosaic scores, market potential, partnerships, competitive landscape, team strength, and tech novelty.
The Mosaic Score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies to help predict a company’s momentum.
Featurespace™ is the world leader in enterprise financial crime prevention for fraud and Anti-Money Laundering. Featurespace invented Adaptive Behavioural Analytics and created the ARIC™ platform, a real-time machine learning software that risk scores events in more than 180 countries to prevent fraud and financial crime.
ARIC™ Risk Hub uses advanced, explainable anomaly detection to enable financial institutions to automatically identify risk, catch new fraud attacks and identify suspicious activity in real-time.
More than 30 major global financial institutions are using ARIC to protect their business and their customers. Publicly announced customers include HSBC, TSYS, Worldpay, NatWest Group, Contis, Danske Bank, ClearBank and Permanent TSB.