/security

News and resources on cyber and physical threats to banks and fintechs worldwide.

Visa in talks over £700m Featurespace acquisition - Sky News

Visa is in talks with Featurespace about a £700 million acquisition of the British financial fraud fighting outfit, according to Sky News.

Be the first to comment

Visa in talks over £700m Featurespace acquisition - Sky News

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Payments giant Visa is in "advanced negotiations" with Cambridge-headquartered Featurespace about a takeover, says Sky. However, a deal is not yet formally agreed.

Founded in 2008, Featurespace counts dozens of major financial institutions - including HSBC and NatWest - among the clients for its machine learning-based fraud detection technology.

It has raised around $100 million from investors, including Mike Lynch, the technology entrepreneur who died on his yacht last week.

In a tribute to Lynch on its website, Featurespace wrote: "It is a high statistical probability that Featurespace wouldn't be a thriving technology company without Mike."

Discover new challenges and opportunities artificial intelligence brings to the banking sector at Finextra's first NextGenAI conference on November 26 2024. Register your interest here.

Sponsored [Impact Study] Adding GenAI To Your Fraud Prevention Strategy

Comments: (0)

[New Survey Report] The Global Fight Against Trade-Based Financial CrimeFinextra Promoted[New Survey Report] The Global Fight Against Trade-Based Financial Crime