This is the second time the company has received a Queen's Award, the first being in 2018 in the Innovation category for its pioneering work in fraud prevention technology.
One of 205 organisations to be honoured, Featurespace secured the Queen's Award for Enterprise - now in its 55th year - for its outstanding commitment to protecting organisations around the globe from financial crime with its award-winning fraud prevention and anti-money laundering software.
“Having studied and founded a company out of Cambridge, as well as witnessing our expansion to the Americas and Asia-Pacific, this is a tremendous honour and underscores our commitment to excellence and to our customers,” said Dave Excell, founder of Featurespace.
The award follows Featurespace’s launch of Automated Deep Behavioural Networks for the card and payments industry, which provides a deeper layer of defence to protect consumers from scams, account takeover, card and payments fraud, which cost the financial services industry an estimated $42 billion in 2020.
Featurespace was recognised in The Sunday Times’ Sage Tech Track 100, which celebrates Britain’s private technology companies with the fastest-growing sales. The company also recently received a Business Culture Award for “Culture in a Crisis” by demonstrating strength in its strong culture before and during the pandemic.
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About Featurespace –
Featurespace™ is the world leader in Enterprise Financial Crime prevention for fraud and Anti-Money Laundering. Featurespace invented Adaptive Behavioral Analytics and Automated Deep Behavioral Networks, both of which are available through 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, Contis, Danske Bank, ClearBank, AK Bank and Permanent TSB.