Embedded finance platform Railsr is teaming up with fraud prevention firm Featurespace this week to bolster fraud prevention efforts for Railsr as an organization, in addition to for its shoppers.
Railsr will leverage Featurespace’s ARIC Danger Hub, mixed with its personal fraud groups, to supply its shoppers with a compliance instrument to remain on prime of rules. The fraud instruments will probably be obtainable to Railsr shoppers with a single integration, making it simpler for them to concentrate on development whereas remaining compliant.
“Because the market accelerates in direction of embedded finance, shoppers anticipate a frictionless fee expertise that’s constructed into the transaction course of. With Featurespace’s AI and ML capabilities, Railsr can present an enhanced stage of buyer expertise, making shoppers’ lives easier and safer,” mentioned Railsr World Head of Product for Fincrime and Operations Stuart Hartley.
The ARIC Danger Hub will allow Railsr clients to view and handle their fraud analytics, in addition to supply them a single place to entry Featurespace’s fraud and AML (FRAML) options.
“The Railsr platform is a pure match for Featurespace,” mentioned Featurespace Chief Industrial Officer Matt Mills. “As embedded finance more and more turns into anticipated by shoppers, ensuring they’re protected against fraud and monetary crime should be anticipated in equal measure. Railsr have acknowledged this early and added a important layer of self-learning know-how to make sure their clients get solely the most effective expertise.”
Railsr anticipates the brand new fraud instruments will probably be obtainable throughout the subsequent 12 months.
Right this moment’s information comes amid a string of high-profile partnerships for Featurespace final month, together with with BBVA, Diebold Nixdorf, and World Processing Providers. Featurespace has greater than 30 main financial institution shoppers together with 4 of the 5 largest banks within the U.Ok. Amongst Featurespace’s clients are HSBC, TSYS, Worldpay, RBS NatWest Group, Danske Financial institution, ClearBank, and extra.
Based in 2005 by a college professor and his PhD scholar, Featurespace has raised $108 million, together with its most up-to-date funding of $37 million obtained in 2020.
Photograph by Tima Miroshnichenko
