TSYS collaborates with Featurespace to combat fraud with machine learning platform
Payment solutions provider TSYS has signed an agreement with Featurespace to enhances its real-time fraud capabilities by leveraging machine learning technology.
Under the agreement, TSYS will harness Featurespace's machine-learning platform ARIC engine to monitor individual transactions and the entire credit risk lifecycle.
The new agreement allows TSYS to provide clients with actionable insights in real time, using adaptive behavioral analytics.
TSYS group executive of issuer product group Andrew Mathieson said: "TSYS' collaboration with Featurespace aligns with our overall strategy of integrating with advanced, innovative technology partners to help our clients grow their business, reduce costs, and deliver an exceptional customer experience.
"We will incorporate these capabilities across the credit risk lifecycle, enabling our issuers to catch more fraudulent transactions while dramatically reducing false-positive alerts for genuine transactions -- a sharp contrast to the industry paradigm of blocking more valid transactions in order to detect actual fraudulent activity."
Featurespace chief executive Martina King said: "TSYS has a long-standing leadership position in authorization processing and fraud management and we are excited to integrate our ARIC engine for TSYS' clients. We are proud to be working with TSYS to deliver world-leading machine learning fraud protection and exceptional customer management to their clients."
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