Equals Group, a payments services provider, has partnered with Featurespace to embed fraud prevention technology across its platforms.
The deal provides Equals Money, a division of Equals Group, payment fraud, anti-money laundering and card fraud prevention solutions. Equals hopes this will enable it to deliver payments and foreign exchange solutions that are fast, straightforward and adaptive to new market conditions.
Featurespace’s ARIC Risk Hub is a ‘best-in-class’ solution for fraud detection. The self-learning technology will empower Equals to apply machine learning models to identify fraud that standard rules-based systems would typically miss.
Speaking on the partnership, Featurespace chief commercial officer Matt Mills said, “Equals is doing some really innovative work in the world of money management for enterprise customers,”
“As part of this they have shown that they take the security and safety of their customers very seriously, which means using the fraud and financial crime detection platform – and getting it operational as fast as possible.
“We are delighted to partner with Equals to protect them and their customers from unforeseen attacks while also ensuring the highest acceptance rates in the industry.”
This partnership comes during a period of strong growth for Equals. The company recently announced it has experienced an 84% growth in revenue at £31.3m during H1 2022.
Featurespace has established a number of partnerships this year. It recently partnered with global modern card issuing platform Marqeta launched its new RiskControl solution developed with Featurespace, while Cambridge-born fintech Monavate announced a partnership to embed Featurespace’s ARIC Risk Hub on its full-service issuing platform Monavate One.
In other RegTech news, Liz Truss, the frontrunner in the UK’s Conservative Party leadership election is calling for the merger of three major watchdogs in what would be a massive regulatory shakeup. Truss plans to merge the Financial Conduct Authority, the Prudential Regulation Authority and the Payments System Regulator into a single new body
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