goHenry, the UK's first fully digital family banking solution designed to help young people manage their money, has appointed Featurespace, the leading machine learning Adaptive Behavioural Analytics fraud prevention company, to safeguard customers’ accounts and reduce fraudulent transactions.
Featurespace’s real-time, machine learning ARIC platform detects anomalies in individual behaviour for fraud and risk management. The ARIC platform will be integrated into goHenry’s system to provide transaction monitoring and fraud detection across the entire customer journey.
goHenry was founded with a mission to make the next generation of young people better at managing their money. It is a subscription service, which provides 6 to 18 year olds with a prepaid debit card and app with unique parental controls.
Parents can use the goHenry app to easily manage pocket money, set spending limits and rules on where the card can be used, and much more. These tools are designed to help children and teens learn to earn, save and spend responsibly, while giving parents peace of mind and an easy way to manage their children's pocket money.
By partnering with Featurespace, goHenry can ensure equally innovative full fraud and risk protection to its customers.
Louise Hill, goHenry COO, commented:
“We are delighted to be working with Featurespace to ensure that our customers are even better protected. Featurespace’s industry leading technology ensures that goHenry continues to lead the market.”
Martina King, Featurespace CEO, commented:
“Protecting goHenry’s young savers from fraudsters is an inspiring application of our machine learning technology - safeguarding children’s pocket money and giving parent’s peace of mind.
“goHenry offers a unique tool for parents to teach their children to earn, save and spend responsibly and we are very proud to be providing an equally pioneering fraud prevention solution.”