FB pixel

Featurespace adaptive behavioral analytics tool to fight application fraud in Mexico

 

Fraud detection and risk prevention company Featurespace has partnered with credit bureau Círculo de Crédito to roll out its ARIC platform in Mexico to reduce application fraud, a prevalent problem the country has been struggling with lately, the company announced.

“Just a few years ago, our country ranked eighth globally in identity theft. It’s an increasingly growing threat to Mexico’s financial sector,” said Gustavo Lacroix, CEO of Círculo de Crédito.

To identify anomalies and contain attacks, the ARIC platform leverages adaptive behavioral analytics and anomaly detection to create individual profiles based on unique behaviors. The company claims its tool delivers high accuracy while processing high application volumes.

“Along with our vast data set and market expertise, this product will open up new opportunities in Latin America. This partnership will result in the first Artificial Intelligence platform for anomaly detection, which will help companies optimize the way they’re fighting fraud and allow them to prosper,” added Lacroix.

“Criminals are constantly trying to find ways to imitate genuine customers and the problem is growing because there are more points of attack,” David Excell, CTO and co-founder of Featurespace. “Círculo de Crédito’s entire organization is dedicated to improving the portfolio integrity of lenders in Mexico and we’re excited to support their efforts by helping them outsmart fraud, no matter how sizable or complex the challenge.”

In September, Featurespace secured a fraud prevention deal with global bank HSBC.

Article Topics

 |   |   |   |   | 

Latest Biometrics News

 

Oxford program to study DPI impact on social, financial inclusion

Oxford University’s Blavatnik School of Government has announced the establishment of the Oxford Digital Public Infrastructure Research Lab (OxDPI), an…

 

Idemia makes OEM pitch for biometric modules

A recent webinar from Idemia Public Security looks at how original equipment manufacturers (OEMs) can integrate seamless security into devices…

 

Biometrics coming to more stadiums with facial recognition tender in NSW

Venues New South Wales (VNSW) has issued a tender for facial recognition systems to be deployed at Stadium Australia (Accor…

 

FinGo supplying vein biometrics to boost gold mining transparency

SMX – a company operating in the so-called circular economy – is collaborating with finger vein biometrics firm FinGo in…

 

Biometric privacy law in Texas close enough to BIPA to protect Match

Just because you live in Illinois and a company has processed your biometrics without getting your informed consent, you may…

 

IN Groupe set for leading role in European digital ID as Nets acquisition finalized

The agreement for IN Groupe to take over Nets’ digital ID business from Nexi Group has been finalized, making IN…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events