CHEQUING OUT
This data is our superpower , and it is how we will turn the tide on fraud – by using AI for good . good for over a decade . By creating an anonymised profile of an individual in real-time , we can use the good behaviour ( of which there is significantly more ), to identify and stop unusual , potentially fraudulent bad behaviour in milliseconds , protecting banks and their customers from fraud . The recent Pay . UK proof of concept demonstrates that when banks share intelligence amongst the group , the positive impact on reduction of loss for consumers is striking .”
Featurespace has built a model optimised for real-time data analytics , capable of recalibrating in real-time to identify and prevent both existing and new forms of fraud .
Last year , Featurespace ’ s solution improved NatWest ’ s scam detection rate by 135 % and reduced false positives for scams by 75 % – enabling genuine transactions to be processed quicker , saving both costs and processing time . � www . intelligentfin . tech
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