The U.K.-based embedded finance company Railsr announced on that it has partnered with Featurespace to help protect Railsr customers from the threat of fraud. Railsr will incorporate Featurespace’s ARI Risk Hub into its anti-money laundering (AML) and anti-fraud tech stack as part of the new partnership to better equip financial crime teams.
Within a year, Railsr promised that it will make the ARIC Risk Hub accessible to its customers, allowing them to manage their anti-fraud and AML analytics using Featurespace’s artificial intelligence technology through a single interface. Modern fraud and money laundering threats are discussed, as well as how AI can change financial institutions’ (FIs’) AML strategy, in a PYMNTS report titled Augmented AML And Fraud Risk Management: Analytics Guide To Enhanced Alert Generation.
The report describes how AI and behavioral analytics can assist financial institutions in detecting suspicious transactions even when a consumer’s identity has been stolen by detecting out-of-character behavioral changes.
Stuart Hartley, Railsr’s global head of product for FinCrime and operations said, “with Featurespace’s AI and [Machine Learning] capabilities, Railsr can provide an enhanced level of customer experience, making consumers’ lives simpler and safer. After an extensive review, the Featurespace platform, multi-tenancy capabilities, team, and proven track record meant they stood out as the right technology partner for us.”