Real-time behavioural analytics fraud prevention company, Featurespace, announced this week the launch of its groundbreaking anti-fraud technology onto the Singapore market. The company, which was founded using research conducted at Cambridge University, remains headquartered in the city.
Early in 2019, Featurespace raised US$32.3mn in funding, which it is using to expand internationally into new markets. With offices already in Cambridge, London and Atlanta, the company is now exploring the Asia-Pacific market with its Singapore launch.
"Singapore’s banking community has made it clear to us that it believes that the smart use of data is paramount in combatting and mitigating fraud. We look forward to sharing our proven capabilities and deep knowledge with the financial institutions of Singapore,” said Martina King, Featurespace CEO.
Featurespace’s platform, which uses machine-learning to detect potential fraud, is aimed at preventing the rising wave of cyber-fraud.
King continued: “Featurespace is the world leader in Adaptive Behavioural Analytics technology, which helps financial institutions stop fraud faster. Millions of Singapore’s citizens have been victim of many large-scale fraud attacks in the recent past – by implementing machine learning technology, we can help banks and credit card providers outsmart the criminals and build a safer banking infrastructure.
“Our financial services customer base is growing fast, and we are now are working with 17 banks across continental Europe, the UK, US and Latin America. Our technology is also being embedded by payment processors and merchant acquirers who use our real-time fraud prevention technology in their anti-fraud solutions.”