Scam-busters Featurespace celebrate Finn-tech coup
Finland's biggest FinTech startup has turned to technology from Cambridge-based Featurespace to protect clients from fraud attacks.
Enfuce has more than eight million end-users in its platform and sought a flexible fraud prevention solution for its banks, merchants and financial operators that could quickly integrate with its cloud-based payments platform.
It required scalable multi-tenancy functionality delivering customisable controls at every level – even down to individual organisations – to prevent scams.
Featurespace has become world leader in financial crime risk management for fraud and anti-money laundering and its ARIC Risk Hub anti-fraud prevention techniques are constantly evolving. The global financial cost of fraud is an estimated $5.13 trillion.
Monika Liikamaa, co-founder and chair of Enfuce, said: “Our clients deserve industry-leading services that allow them to freely and fully concentrate on the success of their core business, without worrying about ever-evolving fraud.
“With ARIC Risk Hub we remove that worry. It's an extremely intuitive, future-proof risk solution that allows us to protect our clients' transactions across all verticals, facilitates faster onboarding and supports our growth.”
Powered by adaptive behavioural analytics, a Featurespace invention, ARIC Risk Hub delivers real-time transaction monitoring for fraud and financial crime. This allows financial institutions to spot more fraud and suspicious activity as it happens, while also reducing genuine transactions declined.
CEO Martina King said: “Risk exposure and criminal behaviour is constantly growing and we must collaborate more effectively to outsmart them. We are thrilled that Enfuce selected us.
“They're innovators that are committed to providing their clients with stellar service and our partnership will keep driving the industry forward.”