Latin American credit bureau Círculo de Crédito has partnered with Featurespace to bring the latter’s ARIC anti-fraud platform to the Mexican market.
The partnership will bring a more effective defense against application fraud to lenders in the market.
The ARIC platform integrates adaptive behavioral analytics and anomaly detection for the automatic identification of risks and attacks.
It minimises false positives, allowing investigators to focus on the alerts that require the most urgent attention.
Círculo de Crédito CEO Gustavo Lacroix said: “Along with our vast data set and market expertise, this product will open up new opportunities in Latin America. This partnership will result in the first Artificial Intelligence platform for anomaly detection, which will help companies optimize the way they’re fighting fraud and allow them to prosper.”
The ARIC platform combines rules, adaptive rules and adaptive models. It automatically adapts and updates as behavior changes are identified, enhancing future transaction monitoring and offering better control of risk exposure.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataFeaturespace CTO and co-founder David Excell said: “Criminals are constantly trying to find ways to imitate genuine customers and the problem is growing because there are more points of attack.
“Círculo de Crédito’s entire organization is dedicated to improving the portfolio integrity of lenders in Mexico and we’re excited to support their efforts by helping them outsmart fraud, no matter how sizable or complex the challenge.”
Featurespace had recently partnered with NatWest for real-time, enterprise-wide fraud prevention and transaction monitoring.
The ARIC platform will allow NatWest to improve its ability to detect and reduce third-party fraud losses and avoid overall fraud before the point of payment.