Portfolio company Featurespace, has entered into an agreement with TSYS, which delivers bespoke solutions in the payments and monetary transactions field.
The agreement will allow TSYS to integrate Featurespace's ARIC engine into its systems. ARIC is Featurespace's machine learning platform, which is able to analyse customer data and enables more precise fraud detection.
Andrew Mathieson, group executive, issuer product group at TSYS said:
“TSYS’ collaboration with Featurespace aligns with our overall strategy of integrating with advanced, innovative technology partners to help our clients grow their business, reduce costs, and deliver an exceptional customer experience
“We will incorporate these capabilities across the credit risk lifecycle, enabling our issuers to catch more fraudulent transactions while dramatically reducing false-positive alerts for genuine transactions — a sharp contrast to the industry paradigm of blocking more valid transactions in order to detect actual fraudulent activity.”