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Embedded finance platform Railsr is teaming up with fraud prevention firm Featurespace this week to bolster fraud prevention efforts for Railsr as an organization, in addition to for its shoppers.
Railsr will leverage Featurespace’s ARIC Threat Hub, mixed with its personal fraud groups, to supply its shoppers with a compliance device to remain on prime of rules. The fraud instruments can be accessible to Railsr shoppers with a single integration, making it simpler for them to give attention to development whereas remaining compliant.
“Because the market accelerates in the direction of embedded finance, shoppers anticipate a frictionless fee expertise that’s constructed into the transaction course of. With Featurespace’s AI and ML capabilities, Railsr can present an enhanced stage of buyer expertise, making shoppers’ lives easier and safer,” mentioned Railsr World Head of Product for Fincrime and Operations Stuart Hartley.
The ARIC Threat Hub will allow Railsr prospects to view and handle their fraud analytics, in addition to supply them a single place to entry Featurespace’s fraud and AML (FRAML) options.
“The Railsr platform is a pure match for Featurespace,” mentioned Featurespace Chief Industrial Officer Matt Mills. “As embedded finance more and more turns into anticipated by shoppers, ensuring they’re protected against fraud and monetary crime should be anticipated in equal measure. Railsr have acknowledged this early and added a essential layer of self-learning expertise to make sure their prospects get solely the most effective expertise.”
Railsr anticipates the brand new fraud instruments can be accessible inside the subsequent 12 months.
Immediately’s information comes amid a string of high-profile partnerships for Featurespace final month, together with with BBVA, Diebold Nixdorf, and World Processing Companies. Featurespace has greater than 30 main financial institution shoppers together with 4 of the 5 largest banks within the U.Okay. Amongst Featurespace’s prospects are HSBC, TSYS, Worldpay, RBS NatWest Group, Danske Financial institution, ClearBank, and extra.
Based in 2005 by a college professor and his PhD pupil, Featurespace has raised $108 million, together with its most up-to-date funding of $37 million acquired in 2020.
Picture by Tima Miroshnichenko
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