Railsr Selects Featurespace for AML Analytics Tech
The U.K.-based embedded finance company Railsr announced on Tuesday (Nov. 15) that it has partnered with Featurespace to help protect Railsr customers from the threat of fraud.
As part of the new partnership, Railsr will integrate Featurespace’s ARI Risk Hub into its anti-money laundering (AML) and anti-fraud tech stack to better equip financial crime teams.
Railsr stated that it would make the ARIC Risk Hub available to its clients within 12 months, giving them access to Featurespace’s Artificial Intelligence technology through a unified interface for managing their anti-fraud and AML analytics.
A PYMNTS report, Augmented AML And Fraud Risk Management: Analytics Guide To Enhanced Alert Generation, written in collaboration with Featurespace, outlines some modern fraud and money laundering threats and how AI can transform financial institutions’ (FIs’) AML strategy.
Get the Report: Augmented AML And Fraud Risk Management: Analytics Guide To Enhanced Alert Generation
The report explains how AI and behavioral analytics can help FIs flag suspicious transactions even when a consumer’s identity has been stolen by spotting out-of-character behavioral changes.
In a press release announcing the new partnership, Stuart Hartley, Railsr’s global head of product for FinCrime and operations said “with Featurespace’s AI and [Machine Learning] capabilities, Railsr can provide an enhanced level of customer experience, making consumers’ lives simpler and safer.”
“After an extensive review, the Featurespace platform, multi-tenancy capabilities, team and proven track record meant they stood out as the right technology partner for us,” he added.
Joining him, Featurespace Chief Commercial Officer Matt Mills said the Railsr platform is a “natural fit for Featurespace.”
He added that “as embedded finance increasingly becomes expected by consumers, making sure they are protected from fraud and financial crime must be expected in equal measure. Railsr ... recognized this early and added a critical layer of self-learning technology to ensure their customers get only the best experience.”
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