US-based credit card processor TSYS has launched a new fraud prevention tool – TSYS Foresight Score – in collaboration with Featurespace, a provider of adaptive behavioural analytics technology.
TSYS Foresight Score incorporates machine learning to enhance an issuer’s ability to fight transactional fraud.
It is powered by Featurespace’s platform, known as ARIC, which monitors user’s data in real-time, spotting differences to enable them to outsmart risk, protect their customers and increase revenue.
TSYS Foresight Score has been designed to identify subtle variances from predicted human behaviour, allowing it to more accurately predict new and unknown fraud types.
TSYS president and COO Pam Joseph said: “We are excited to add Foresight Score to our comprehensive suite of risk and fraud products.
“We are certain that it will help our clients detect and prevent more transactional fraud while at that same time reducing false-positive alerts — helping increase revenue and improve operational efficiency.”
Featurespace CEO Martina King said: “Our ARIC platform was specifically designed to help manage complex problems like transactional card fraud. Combined with TSYS’ industry experience, and robust client base, this product has tremendous potential in the fight against fraud.”