Featurespace watching behaviour at Money 20/20

AI expert Featurespace has chosen Money 20/20 Europe to introduce Adaptive Behavioral Biometrics, which uses in-session behavioral data collected from digital channels in real time to detect and prevent fraud during customer onboarding and digital sessions.

Martina King, CEO at Featurespace, commented: “We’re attuned to the evolution of fraud and leverage our market-leading models and technology to continue to deliver the latest and most advanced fraud prevention and detection tools.

“There has never been a more important time to support our customers in their drive to prevent fraud loss and reduce customer friction.”

Digital customer onboarding presents a significant challenge for banks, insurers, and other financial institutions because there is no historical information to accurately determine if an applicant is genuine or a criminal. These organisations are also bombarded with new threats to existing customers, such as malware, as well as account takeover and man-in-the-middle and phishing attacks.

Available through the ARIC Fraud Hub, Adaptive Behavioral Biometrics models track user-specific features collected ahead of a transaction. The models consistently self-learn from each interaction to produce a unique session fingerprint that indicates an individual user’s usual or unusual behaviour and provides fraud analysts with an easy-to-understand visual profile that even detects phishing and malware activity generated by genuine customers.