TSYS Enhances Real-Time Fraud Capabilities with Machine Learning Technology
May 19 2016 - 9:00AM
Business Wire
Collaboration with Featurespace to provide
next-generation detection
TSYS® (NYSE: TSS), today announced an agreement with
Featurespace™, a global leader in adaptive behavioral analytics,
that will reduce fraud for its clients with a revolutionary machine
learning software platform — the ARICSM engine — that monitors
every individual — one customer at a time — to deliver real-time
decision capabilities.
“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,” said Andrew Mathieson,
group executive, issuer product group, TSYS. “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.”
The new agreement allows TSYS to strengthen its position in
faster payments by leveraging machine learning to provide clients
with actionable insights in real time, using adaptive behavioral
analytics that result in operational efficiencies.
“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,” said Martina King, chief executive
officer, Featurespace. “We are proud to be working with TSYS to
deliver world-leading machine learning fraud protection and
exceptional customer management to their clients.”
The collaboration with Featurespace is yet another example of
TSYS’ partner-centric approach with new, innovative technology
partners, particularly in the fraud- and risk-management space.
Earlier this year, TSYS announced the TSYS Transaction Recovery
NetworkSM, powered by Ethoca, to enable card issuers and e-commerce
merchants to stop online fraud, recover lost revenue, and eliminate
chargebacks by providing merchants with immediate notification of
confirmed fraud.
About TSYS
TSYS® (NYSE: TSS) unlocks opportunities in payments for payment
providers, businesses and consumers. Our headquarters are in
Columbus, Georgia, USA, and we operate in more than 80 countries
with local offices across the Americas, EMEA and Asia-Pacific.
We provide seamless, secure and innovative solutions across the
payments spectrum — from issuer processing and merchant acquiring
to prepaid program management — delivered through partnership and
expertise. We succeed because we put people, and their needs, at
the heart of every decision. It’s an approach we call
‘People-Centered Payments®’.
Our industry is changing every day — and we’re leading the way
toward the payments of tomorrow. We routinely post all important
information on our website. For more, visit us at tsys.com.
About Featurespace
Featurespace™ is the world-leader in Adaptive Behavioural
Analytics and creator of the ARICSM engine, a machine learning
software platform which understands individual behaviours in
real-time for decision making around fraud, risk and
compliance.
Our headquarters are in Cambridge, UK, and we have deployed ARIC
to organisations in the UK, USA and Europe serving over 180
countries. Customers include TSYS, Callcredit, Betfair, KPMG,
Vocalink/Zapp, Camelot, and William Hill.
We provide the ARIC Fraud Hub to organisations in banking,
payments, and gaming to spot new fraud attacks as they occur,
reduce customer friction by reducing false fraud alerts, and
improve operational efficiencies in managing fraud, risk and
compliance.
We are a Gartner Cool Vendor and regularly post news and
announcements on our website. For more info, please visit
www.featurespace.co.uk.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160519005319/en/
TSYS Media RelationsCyle Mims,
+1-706-644-3110cylemims@tsys.comorTSYS Investor RelationsShawn
Roberts, +1-706-644-6081shawnroberts@tsys.comorFeaturespace Head of
MarketingRebecca Amos,
+44-1223-345-921rebecca.amos@featurespace.co.ukorFeaturespace
Commercial DirectorMatt Mills,
+44-207-297-2608matt.mills@featurespace.co.uk
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