Payments service provider TSYS and behavioral analytics company Featurespace have today formed a partnership in which TSYS will leverage Featurespace’s ARIC Engine, software that uses machine learning to monitor online customer behavior in real time to deliver instant fraud decisions.
TSYS, which prides itself on providing faster payments capabilities, can now offer actionable fraud insights to clients in real time. Andrew Mathieson, a group executive for the company, elaborated on plans for the enhanced fraud protection: “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.”
TSYS has often taken a partner-centric approach, especially when it comes to security. In February. the Georgia-based company partnered with Finovate alum Ethoca (FinovateEurope 2016 demo) to launch the TSYS Transaction Recovery Network, an offering that reduces CNP fraud and minimize chargebacks.
Earlier this month TSYS, which debuted its Authorization Controls at FinovateAsia 2013 in Singapore, appointed Pamela Joseph as new president and COO.
After its debut at FinovateEurope 2016, Featurespace was named a Top 100 company by Red Herring Europe. We covered the U.K.-based company’s launch of its ARIC Sandbox earlier this year.