TSYS and Featurespace Join Forces to Speed Fraud Detection
TSYS and Featurespace have partnered to create a machine learning software platform that will make it easier and faster to detect payment card fraud.
The ARIC engine, the software platform, monitors and analyzes every single customer transaction to deliver real-time decisions.
Featurespace, an adaptive behavioral analytics company, will provide TSYS customers with technology that will enable them to get results in real-time, which means they will be able to instantly detect possible payment card fraud.
This collaboration with Featurespace demonstrates TSYS’s recent efforts to create better fraud and risk-management services. Earlier this year, they partnered with Ethoca to enable card issuers and e-commerce merchants to stop fraud, recover lost revenue and eliminate chargebacks by providing immediate notification of fraud.
“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,” said Andrew Mathieson, group executive, issuer product group, TSYS. “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.”