Featurespace and KPMG in fraud-busting alliance
A powerful alliance leveraging Cambridge technology to spot potential frauds in the financial industry has been formed by behavioural analytics specialist Featurespace and leading accountancy practice KPMG.
The UK collaboration will hand clients in financial services the tools to monitor employee activity and spot frauds before they happen.
The partners will employ a range of predictive data analytics and machine learning techniques to effectively model expected behaviour among trading staff, research analysts and M & A teams.
Patterns of activity will also be analysed so that any changes in behaviour can be identified, allowing firms to not only spot potential frauds but also the individuals planning fraudulent activity.
KPMG combine its data and analytics knowledge with Featurespace’s analytics, technical and software-driven expertise to interpret data ranging from email traffic and instant messaging to phone calls, working patterns and performance.
Featurespace CEO Martina King is excited about the possibilities for the alliance. She said: “KPMG’s validation of our software and faith in our ability to deliver a successful collaboration is a resounding endorsement of the Featurespace team and our revolutionary ARIC technology that interprets data through adaptive behavioural analytics.
“Together we aim to exceed expectations in resolving the complex challenges faced by clients with trading operations.”
Marcus Kinlay, head of analytics products at KPMG, added: “Our clients require us to have a deep understanding of their data and analyse it efficiently and effectively to help them mitigate the trading risks they face on a daily basis.
“Working with Featurespace enhances the capabilities KPMG already has to provide its clients with a step change in their ability to stay in control of their trading business.”• PHOTOGRAPH SHOWS: Martina King