Featurespace has been awarded two new patents

In Brief: 

- Featurespace, the world leader in machine learning fraud and financial crime prevention technology, has been awarded two new patents for its innovative technology that will help fight burgeoning levels of global financial crime

- The first is for their Fragmentation Engine and the second for Sandbox Layered State.

- Featurespace’s patents are used to combat financial crimes linked to card-based transactions, account-to-account transactions and fraudulent apps that are used falsely to check customers’ details when opening a new bank or customer account

What does this mean? 

Dave Excell, Featurespace Founder, commented: “The power and accuracy of our technology in reducing the instances of fraud and financial crime is well proven. What we do is make the world a safer place to transact by preventing fraud from happening in real time. Our patented technology changes lives because fewer people will fall victim of fraud in the future.”