Diebold, a “connected commerce” company, has partnered with Featurespace, which works to prevent financial crime, to integrate its fraud prevention technology.
Diebold automates and digitises the way people bank and shop.
Featurespace’s mission is to make the world a safe place to transact. The company aims to help banks and financial institutions protect customers, and reduce risk and business operating costs by providing industry-leading machine learning, financial crime prevention solutions.
The partnership will see Featurespace’s fraud prevention technology be integrated into Diebold Nixdorf’s Vynamic® Payments platform.
Diedbold said that by partnering with Featurespace, it can provide financial institutions a fully integrated payments solution with proven real-time fraud detection and prevention capabilities without the concern of managing multiple vendors.
Vynamic Payments is a cloud-native payments platform that allows the reuse of services across acquiring, processing and issuing domains, and has been proven with leading financial institutions around the globe.
The software’s microservice architecture enables business agility and consumer experiences that seamlessly bridge any channel, integration point, payment type or authentication method.
Martina King, CEO, at Featurespace said, “Featurespace is on a mission to make the world a safer place to transact, and this new partnership with Diebold Nixdorf is an important milestone on this journey.
Fraud prevention is a crucial element in any payment’s modernisation program. Through this partnership, financial institutions can protect every customer and transaction with ARIC Risk Hub integrated into their transaction monitoring and processing.”
Joe Myers, executive vice president, Global Banking, at Diebold Nixdorf, added, “Fraud management is a critical part of the payment’s ecosystem. By integrating the holistic solution into our Vynamic Payments platform, we can provide financial institutions with the most powerful and open technology to combat fraud and financial crime.”
Earlier this year, Equals Group, a payments services provider, partnered with Featurespace to embed fraud prevention technology across its platforms.
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