Capital One UK’s use of TSYS Foresight Score℠ with Featurespace wins TCP Award
Capital One UK’s use of the TSYS Foresight Score℠ with Featurespace has been awarded the Best Security or Anti-Fraud Development Award at The Card & Payments Awards 2018.
Real-time machine learning fraud score recognised as market-leader at prestigious payment sector awards
Capital One UK pioneered the TSYS Foresight Score with Featurespace: an innovative, live, real-time fraud risk score providing enhanced customer card and payments protection – increasing fraud detection by 35%, while also reducing blocked cards by 47%. The machine learning approach – which uses Featurespace’s unique ARIC™ platform technology – understands and predicts individual customer behaviour, even in new payment fraud areas such as online and contactless payments.
The prestigious Card & Payments Awards recognise excellence and innovation in the UK and Irish card and payments industries, judged by an independent panel of industry experts.
The Best Security or Anti-Fraud Development category celebrates innovative solutions that have improved the security of customers’ transactions.
Martina King, Featurespace CEO, commented: “Working with inquisitive and receptive partners – Capital One UK and TSYS – led to the creation of the Foresight Score. A triumvirate of card issuer, payment processor and technology provider has enabled us to create a modern fraud solution for the payments industry to protect card transactions and consumers.
"Last night was the industry’s recognition of our work together. It does not get much better than that. We are thrilled.”
Rob Harding, Managing Vice President, Capital One (Europe), commented: “Capital One UK’s collaboration with TSYS and Featurespace enabled innovative and high-performing card fraud transaction scoring in a live environment.
"Combining Featurespace’s machine learning ARIC platform, TSYS’ payments expertise and Capital One UK’s fraud knowledge has produced excellent results for customer protection, spotting new fraud attacks quickly and automatically.”
Gaylon Jowers Jr., Senior Executive Vice President of TSYS and President of TSYS Issuer Solutions said: “Capital One UK and Featurespace have been great partners in introducing TSYS Foresight Score to the financial sector, understanding the immediate need for a real-time, fraud prevention product focused on the customer. A big thanks to the Card & Payments awards for recognizing this innovative solution and our ongoing commitment to fraud prevention.”
About Featurespace - www.featurespace.com
Featurespace™ is the world-leader in Adaptive Behavioural Analytics and creator of the ARIC™ platform, a machine learning software system developed out of the University of Cambridge.
Headquartered in Cambridge, UK, and Atlanta, US with additional offices in London, UK, and New York, US. Featurespace has deployed ARIC to organisations that have services or products deployed in over 180 countries. Customers include TSYS®, Ally Bank, Vocalink Zapp, Worldpay PLC, Paddy Power Betfair PLC, Playtech, CashFlows and William Hill.
The ARIC platform – a real-time AI software system – monitors individual behaviours and detects anomalies to identify risk and catch new fraud attacks as they happen. The increased accuracy of understanding player behaviour simultaneously reduces the number of genuine players whose purchases and transactions are incorrectly declined.
TSYS® (NYSE: TSS) is a leading global payments provider, offering seamless, secure and innovative solutions across the payments spectrum — from issuer processing and merchant acquiring to prepaid program management. We succeed because we put people, and their needs, at the heart of every decision. It’s an approach we call ‘People-Centered Payments®’.
Our headquarters are located in Columbus, Ga., U.S.A., with approximately 11,500 team members and local offices spread across 13 countries. TSYS generated revenue of $4.2 billion in 2016, while processing more than 25.5 billion transactions. We are a member of The Civic 50 and were named one of the 2017 World's Most Ethical Companies by Ethisphere magazine. TSYS is a member of the S&P 500 and routinely posts all important information on its website. For more, visit tsys.com
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Manage fraud, risk and compliance with world-leading Adaptive Behavioural Analytics. Featurespace is pioneering a new machine learning approach to analysing and predicting the behaviour of people in commercial and social environments to make informed business risk decisions in a wide variety of applications.