Danske Bank, the largest bank in Denmark and leader in the northern European financial markets, has selected Featurespace, the leading machine learning Adaptive Behavioural Analytics fraud prevention company, as its strategic provider to bolster its fraud mitigation capabilities.
Following an extensive research process and comprehensive evaluation of multiple vendors, Featurespace’s ARIC™ Fraud Hub was chosen as the best solution to mitigate card fraud at the customer level in real time and across all channels, while also giving customers the best experience by reducing the number of false positives.
“Mitigating fraud is incredibly challenging because the threat keeps evolving. A real-time adaptive system highlights new attacks at the time they occur, which protects the bank and its customers” said Martina King, CEO, Featurespace. “We are honoured to be selected by Danske Bank as its partner to combat card and digital fraud”
The ARIC Fraud Hub - which is deployed in some of the world’s largest banks, payment processors and merchant acquirers - uses machine learning to build and monitor individual behavioural profiles in real time to detect anomalies and prevent fraud across all payment methods and channels, as it occurs.