Financial crime risk management platform Featurespace will help Enfuce, a payments and open banking solution developer, with its fraud prevention capabilities.
Enfuce chose Featurespace because it wanted a fraud prevention solution which its client banks, merchants and financial operators could quickly integrate with its cloud-based payments platform. The FinTech wanted a scalable multi-tenancy functionality delivering customizable controls at each level.
The FinTech builds cloud technology which empower companies to incormorate payments and open banking services.
Featurespace’s ARIC Risk Hub provides real-time transaction monitoring for fraud and financial crime. With this, financial institutions can spot more fraud and suspicious activity when it happens while lowering the amount of genuine transactions declined.
Enfuce co-founder and Chair Monika Liikamaa said, “Our clients deserve industry-leading services that allow them to freely and fully concentrate on the success of their core business, without worrying about ever-evolving fraud.
“With ARIC Risk Hub, we remove that worry. It’s an extremely intuitive, futureproof risk solution that allows us to protect our clients’ transactions across all verticals, facilitates faster onboarding and supports our growth.”
Featurespace formed a partnership with Emailage, an online fraud prevention and email risk assessment company, to help boost its risk management. The deal saw Emailage integrate Featurespace’s ARIC platform to improve detect and report application in real-time.
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