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7 July, 2020 - 17:49 By Tony Quested

Featurespace prepares move to Cambridge Science Park

Featurespace, whose AI technology enables financial institutions worldwide to detect and prevent fraud and financial crime, is in the process of moving its UK headquarters to the iconic Cambridge Science Park.

CEO Martina King revealed to Business Weekly that management were preparing the building ready to welcome staff imminently. The new HQ gives Featurespace ample room for a fresh spurt of planned global expansion.

King said: “We are moving into 140 Cambridge Science Park – just waiting for lockdown to lift before we invite our wonderful team into their new home.”

Featurespace is relocating from the Broers Building in Cambridge. King said: “We are continuing to expand and had exhausted all of the available space in the Broers Building. Approximately 200 people will be moving into our new office pre social distancing but we have the capacity to grow to over 300 when the business world is once more operating at full throttle.

“Featurespace is continuing to recruit top talent to support our growing international customer base.”

As well as plush offices, the new HQ provides ample parking and a wealth of cycle racks and attractive staff amenities.

As Business Weekly revealed recently, Featurespace, has just raised £30 million of fresh growth capital as it continues to expand both sides of the Atlantic and elsewhere.

King said at the time that the cash would be used to support continued expansion in the UK, the US, Singapore, Europe and Australia. The funding round was led by Merian Chrysalis Investment Company Limited and also included further funding from a number of existing investors. 

King said: “During these challenging times our machine learning models have automatically adapted to the shift in consumer, business and criminal behaviour. 

“It is our continued focus to deliver industry-leading, fraud and anti-money laundering solutions to our customers and partners.”

Based on Cambridge University IP, Featurespace’s ARIC Risk Hub for financial crime monitors real time customer data, using its invention, Adaptive Behavioral Analytics.

ARIC Risk Hub offers seven machine learning solutions for fraud and anti-money laundering analysts to spot suspicious activity and prioritise alerts with explainable anomaly detection. At the same time, ARIC Risk Hub recognises genuine customers without blocking their activity, reducing friction.

Working as a technology partner to the financial services industry, the ARIC Risk Hub is deployed in some of the world’s largest banks, payments processors and merchant acquirers. 

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