HONG KONG--(BUSINESS WIRE)--Featurespace™, the leading provider of Enterprise Financial Crime prevention software, has been named the overall winner of the inaugural Global Fast Track Programme, a contest created to help local and global enterprises grow and accelerate innovation through Hong Kong's diverse fintech ecosystem.
Held in conjunction with Hong Kong FinTech Week (2-6 November 2020), the Global Fast Track Programme invited solution providers from nine key fintech verticals to showcase their technologies for consideration. Out of more than 550 applications, 68 companies were selected and invited to pitch their innovative solutions to the Hong Kong Monetary Authority and more than 30 senior executives from leading corporations and investors in Hong Kong and Asia.
Featurespace was announced as the overall winner for its ARIC™ Risk Hub, an innovative platform that uses advanced, self-learning models and explainable anomaly detection to enable financial institutions to automatically identify risk, catch new fraud attacks and identify suspicious activity in real-time.
King Leung, Head of FinTech at InvestHK, said: “The Global Fast Track Programme, which is a business-driven platform of the Hong Kong Fintech Week, attracted over 550 company applications from 44 global economies. The high quality FintechHK Global Final competition showcased some of the finest FinTech solutions worldwide and their plan to scale their business in Hong Kong. Congratulations to the champion Featurespace and we look forward to working with you to fast-track your next success in Hong Kong."
In a year of unprecedented change, Featurespace has maintained ongoing success. In May, it completed a £30 Million funding round to help further its efforts in the Asia Pacific region and in June, the company expanded its presence with Australian fintech, Hay. Also, in response to evolving fraud and financial crime, Featurespace continues enhancing the Risk Hub to ensure its customers are receiving optimal, market-leading acceptance rates so that they can focus on protecting their own customers.
About Featurespace – www.featurespace.com
Featurespace™ is the world leader in enterprise financial crime prevention for fraud 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™ Risk Hub uses advanced, explainable anomaly detection to enable financial institutions to automatically identify risk, catch new fraud attacks and identify suspicious activity in real-time. More than 30 major global financial institutions are using ARIC to protect their business and their customers. Publicly announced customers include HSBC, TSYS, Worldpay, NatWest Group, Contis, Danske Bank, ClearBank and Permanent TSB.