NatWest and Featurespace Partner for Real-Time, Enterprise-Wide Fraud Prevention and Transaction Monitoring

LONDON--()--NatWest has agreed a strategic partnership with Featurespace to profile and monitor payments and account activity to prevent fraud and scams using Featurespace’s ARIC™ platform. The platform has the ability to detect and reduce third-party fraud losses and prevent overall fraud before the point of payment.

The ARIC platform, powered by machine learning and Featurespace's Adaptive Behavioral Analytics, detects anomalies and risk scores each event to predict the likelihood of fraud. In addition, the ARIC platform reduces the number of false alerts, allowing fraud analysts to dedicate their time to reviewing genuine fraud alerts and removing friction in the payments process for customers.

Commenting on the partnership Alasdair MacFarlane, Head of Fraud Prevention & Response at NatWest said: "The only way to consistently stop multifaceted fraud and protect our customers is to learn about customers' specific behaviors, recognize what's normal and immediately detect anomalies. Featurespace allows us to more accurately assess risk and authenticate activity across multiple channels, while facilitating a much stronger incident management process."

Martina King, CEO of Featurespace, said, “NatWest’s selection of Featurespace demonstrates how seriously the bank is committed to safeguarding its customers from a constantly evolving fraud landscape. The fraud challenge requires an innovative partnership to stay ahead of threats posed to our dynamic payment landscape and we are delighted to be working together to solve this problem."

About The Royal Bank of Scotland plc.

Registered in Scotland No 83026. Registered Office: 36 St Andrew Square, Edinburgh EH2 2YB. The Royal Bank of Scotland is authorised by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority and Prudential Regulation Authority. The Royal Bank of Scotland N.V. is authorised and regulated by the De Nederlandsche Bank and has its seat at Amsterdam, the Netherlands, and is registered in the Commercial Register under number 33002587. Registered Office: Gustav Mahlerlaan 350, Amsterdam, The Netherlands. The Royal Bank of Scotland N.V. and The Royal Bank of Scotland plc are authorised to act as agent for each other in certain jurisdictions.

National Westminster Bank Plc. Registered in England No. 929027. Registered Office: 250 Bishopsgate, London EC2M 4AA. National Westminster Bank Plc is authorised by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

The Royal Bank of Scotland plc and National Westminster Bank Plc are authorised to act as agent for each other.

About Featurespacewww.featurespace.com

Featurespace™ is the world leader in risk management for fraud prevention and Anti-Money Laundering. Featurespace invented Adaptive Behavioral Analytics and created the ARIC™ platform, a real-time machine learning software that risk scores events in more than 180 countries to prevent fraud and financial crime.

ARIC combines unique Adaptive Behavioral Analytics and anomaly detection to automatically identify risk, catch new fraud attacks and suspicious activity in real-time. More than 20 major global financial institutions are using ARIC to protect their business and their customers. Publicly announced customers include HSBC, TSYS, Worldpay, Contis, Danske Bank, ClearBank, Permanent TSB and Betfair.

Contacts

Media Inquiries
Featurespace:
Michael Touchton,
U.S. Marketing Manager
Michael.touchton@featurespace.com
+1 (423) 364-5491

RBSG:
Sean Palmer
Media Relations Manager
Sean.palmer@rbs.co.uk
+44 (0) 20 7672 2045

Contacts

Media Inquiries
Featurespace:
Michael Touchton,
U.S. Marketing Manager
Michael.touchton@featurespace.com
+1 (423) 364-5491

RBSG:
Sean Palmer
Media Relations Manager
Sean.palmer@rbs.co.uk
+44 (0) 20 7672 2045