KUALA LUMPUR, Sept 9 (Bernama) -- Featurespace™, the world leader in Enterprise Financial Crime prevention for fraud and Anti-Money Laundering has been recognised for market leading AML innovation and client service as part of Aite-Novarica Group's 2021 Fraud & AML Impact Innovation Awards.
“With advanced and explainable anomaly detection capabilities, Featurespace’s ARIC Risk Hub enables financial organisations to identify current and emerging financial crime risks and events automatically and in real-time,” said Aite-Novarica Group Research Director Chuck Subrt.
Critical to the win was ARIC Risk Hub's ability to adapt to criminal activity and identify unknown risks, while also providing greater uplift for financial crime detection and enabling smarter investigations.
In addition, Featurespace has introduced a new method of explainability to quantify the uncertainty in machine learning model outputs and identify the aspects driving the underlying decisioning.
“We are committed to solving real world financial crime problems and it is a real honour to see our technology recognised for its performance, and our team acknowledged for their care, academic rigour and expertise,” said Featurespace Chief Executive Officer, Martina King in a statement.
The awards will be presented at Aite-Novarica Group’s Fourth Annual Financial Crime Forum on Sept 14 and 15, during which Featurespace will join Navy Federal Credit Union, Truist Financial and Axcess Financial for a moderated panel (Open Platforms: Orchestrating Fraud and AML Detection - Sept 14).
Featurespace's unique approach to enterprise AML transaction monitoring is based on profiling good behaviour, providing financial institutions with a 360-degree risk view across customers.
More details at www.featurespace.com.
-- BERNAMA
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