05 September 2015

Zapp fights fraud with behavioural analytics firm Featurespace

16 April 2014  |  2374 views  |  0 Source: Zapp

Zapp today announces a partnership with Featurespace, the global leader in adaptive behavioural analytics, which will ensure that Zapp is at the forefront of fighting payment fraud.

Together with Zapp's unique token-based payment system, this partnership with Featurespace will provide a seamless, successful customer experience at checkout whilst ensuring some of the lowest levels of fraud in the payment industry.

Zapp will implement a fraud monitoring and alerting system based on Featurespace's ARIC adaptive behavioural analytics engine. The engine is powered by machine learning adaptive algorithms, which run in real time and spot subtle changes at account level. The new technology enables existing and new types of fraud to be identified and prevented: a modern technological solution to an age old problem.

Featurespace was created out of Cambridge University's Engineering Department, co-founded in 2005 by world-renowned expert in applied statistics Professor Bill Fitzgerald. Today, the Cambridge-based company employs the University's brightest researchers, software engineers, and data analysts, combined with the best of commercial and industrial IT experience. Because of the ground-breaking nature of its technology, Featurespace has been recognised worldwide and is backed by investment from Nesta, Imperial Innovations, Betfair, and Cambridge Angels.

Peter Keenan, Chief Executive Officer of Zapp commented, "Zapp will provide a great payment experience that is simple, quick and above all, secure. We need to ensure that Zapp payments are trusted by consumers and merchants alike and our implementation of Featurespace's incredible real-time analytics capability will be essential to delivering a great experience, whilst providing some of the highest levels of fraud protection in the industry."

Martina King, Chief Executive Officer of Featurespace said, "At Featurespace we have developed a unique technology to conquer modern day fraud problems. We have been working intensively over the past few months with Zapp to implement our real-time fraud detection engine so that Zapp transactions can be some of the most secure e in the UK market." 

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Related blogs

Create a blog about this story (membership required)

Related company news

 

Who is commenting?

Finextra Member Commented on: HSBC to rebrand Britsh...
Finextra Member Commented on: Zapp to use behavioura...

Top topics

Most viewed Most shared
Third of Brits expect day-to-day mobile pa...
8552 views comments | 40 tweets | 15 linkedin
UK boosts contactless limit to £30
5851 views comments | 31 tweets | 20 linkedin
PayPal rolls out personalised URLs for P2P...
5840 views comments | 34 tweets | 19 linkedin
Behold the contactless jacket
5651 views comments | 23 tweets | 18 linkedin
MasterCard extends startup search globally
5321 views comments | 14 tweets | 5 linkedin

Featured job

$80,000 - $100,000 + Bonus + Benefits
New York

Find your next job