28 August 2019

Contis uses AI to combat transactional fraud through partnership with Featurespace

Written By Contis

Contis uses AI to combat transactional fraud through partnership with Featurespace

LONDON – Contis, the award-winning banking, payments and processing solution provider today announced its intention to integrate a leading AI fraud prevention system onto its platform through a new partnership with Featurespace. 

Contis, renowned for its cutting edge and real time technology, will use the Featurespace ARIC™ Fraud Hub to detect and prevent transactional fraud in real time, bringing increased security benefit to all its clients and further establishing Contis at the forefront of innovation,  performance and security. 

Featurespace's ARIC Fraud Hub – which is deployed in some of the world’s largest banks, payment processors and merchant acquirers – will be integrated within Contis’ existing fraud prevention environment to detect suspicious activity for card and account transactions in real time. 

Flavia Alzetta, Chief Executive, Contis commented; “Adding Featurespace’s AI to the Contis armoury allows us to offer best in class prevention and protection to all clients who use our banking and payment services. We want to ensure our clients keep ahead of the increasing challenge of fraud.”  

"We are grateful to Contis for trusting Featurespace to protect its expansive set of customers from current and evolving fraud challenges," said Martina King, CEO, Featurespace.

Contis and Featurespace both recently joined the Sunday Times Tech Track 100 as the fastest growing private companies in the UK.

Ends

For further information, please contact:  

Contis (Marlin PR): Jared Foley     jared.foley@marlinpr.com T: +44 207 932 5598 M: +44 7799 901 430

Featurespace: Matt Mills, Chief Commercial Officer matt.mills@featurespace.co.uk, +44 (0) 1223 345940

  

About Contis - www.contis.com

Contis is a leading provider of award-winning, end-to-end, banking, payments and processing solutions. Founded in 2008, Contis’ proprietary, scalable platform manages both bank and Visa payments in real time. One of the FT1000: Europe’s Fastest Growing Companies 2018, Contis has offices in the UK, Europe and India providing modular banking solutions to third parties, in addition to a number of branded and white-label banking products, offering full current account capability. Contis benefits from a full license suite, including FCA eMoney License covering the EEA, and is a  Principal Visa member with sponsorship capability.

About Featurespace -www.featurespace.com

 

Headquartered in the U.K, with offices in Cambridge, London and Atlanta, Featurespace™ is the world-leader in fraud prevention and creator of the ARIC™ platform, a real-time AI machine learning software that risk scores transactions in more than 180 countries. The ARIC platform combines adaptive behavioural analytics and anomaly detection to identify risk and catch new fraud attacks as they happen. The increased accuracy of understanding behaviour strikes the balance between improving fraud detection and operational efficiencies, while also reducing the number of genuine transactions that would be incorrectly declined due to traditional rules by as much as 70%. 

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