Featurespace is an Adaptive Behavioural Analytics company which has developed a machine learning software platform, the behaviour analytics engine (ARIC) that enables the identification of abnormal behaviour in high-volume real-time applications such as online betting and credit card transactions.
The underlying technology is based on Bayesian statistics and research undertaken at the University of Cambridge by the late Professor Bill Fitzgerald and Featurespace CTO David Excell.
Featurespace’s software delivers significant economic benefits to customers, by providing a granular view of transactions which allows them to predict likely fraud and take appropriate action. For example, for a UK credit card company it reduced fraud loss by 40%, and cut the ratio of false positives to genuine rejections from 23:1 to 6:1.
Featurespace’s growing customer base includes companies such as CallCredit and KPMG in financial services, and Betfair and William Hill in gaming and lotteries.