Enterprise Financial Crime prevention software provider – Featurespace announced the selection of its ARIC Risk Hub by Australian FinTech company Hay. The solution detects and prevents – fraud and money laundering.
Hay is a born-in-the-cloud financial service, offering customers a prepaid Visa card that links to their digital transaction account, through which funds can be stored and accessed.
“This is the first of many revolutionary steps we’re going to take to deliver the flexibility our customers demand and that few in the industry can deliver,” said Jason Latham, CIO of Hay. “Banking with next generation security has been our priority from day one. That’s why we chose Featurespace.”
Powered by Adaptive Behavioral Analytics, ARIC Risk Hub is a fraud detection and financial crime prevention platform with fully adaptive machine-learning models that deliver real-time transaction monitoring for fraud and financial crime. This allows Australian banks and payment providers to spot more fraud and suspicious activity as it happens, while also reducing the number of genuine transactions declined.
