Featurespace has launched a change management and fraud detection tool named ‘Snowdon'.
Designed using Featurespace's behavioural change recognition engine ARIC (Adaptive, Real-time, Individual, Change-recognition), the company said Snowdon utilises intelligent analytics to reduce losses and aggressively grow business, with cutting edge fraud protection.
It has also realeased a next-generation solution called Nevis that it said enables businesses to protect their investment in customers by identifying the ones that are likely to churn.
David Excell, co-founder and director of Featurespace, told SC Magazine that ARIC had been developed to identity fraud needs to identify the known techniques of fraud and unusual behaviour. He said: “It does three things: it builds up a complex statistical profile of the user and learns about their normal activity and what it expects them to do.
“We based the technology on what a virus scanner does, by learning about normal usage so it can identify different behaviour to see a potential threat and create a user profile of the user to see instances of fraudulent behaviour. This is done in real-time.”
Developed by Featurespace and its extended team at Cambridge University, Excell said that both Nevis and Snowdon solutions use a step-change in technology embedded within ARIC to deliver a combination of real-time analysis, self-learning, change prediction and the ability to build and maintain individual profiles alongside the profiles of their peer groups.