Danske Bank Partners With Featurespace

04 de Octubre, 2018

Tiempo estimado de lectura: 1 minuto

The aim is to prevent fraud and also to find the ways to mitigate it.

Specifically, the bank will deploy Featurespace’s ARIC Fraud Hub, a machine learning-based system that builds and monitors customer profiles to detect irregularities and prevent fraud across a range of payment methods. In August, Compare the Market reported that nearly 10% of adults, or 4.7 million people, in the UK have been victims of credit or debit card fraud in the last year alone, resulting in losses of £2 billion ($2.6 billion). As such, fraud detection remains a significant area of attention for firms within financial services. Moving forward, we expect to see many more similar partnerships, as incumbents looks to solve this problem without bearing the developmental costs.

Fuente: Business Insider

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