UK-based embedded finance platform Railsr has teamed with fraud and financial crime prevention enables Featurespace to boost protection for Railsr customers and their consumers. Through the partnership, Railsr plans to combine its own fraud teams focused on card and payment fraud prevention and anti-money laundering solutions through Featurespace's ARIC Risk Hub.

Featurespace’s fraud and AML (FRAML) solution will provide a single integration point, enabling Railsr’s platform to grow in line with business expansion and maintain regulatory compliance, according to the official press release. Over the span of next year, Railsr will provide their customers access to ARIC Risk Hub so they can manage their own analytics directly. This will reportedly give Railsr’s customers a one-stop shop for FRAML in a multi-tenancy instance with a harmonised UI for fraud and AML.

Matt Mills, Featurespace’s Chief Commercial Officer explained that as embedded finance increasingly becomes expected by consumers, making sure they are protected from fraud and financial crime must be expected in equal measure. Featurepace’s partnerships in 2022 and fraud prevention expertise Featurespace helps banks and financial institutions protect customers, and reduce risk and business operating costs by providing machine learning, financial crime prevention solutions.   Featurespace invented Adaptive Behavioral Analytics and Automated Deep Behavioral Networks and is the first to profile both genuine and fraudulent behaviour to identify and block criminal activity in real time.

Both are patent pending technologies that are central to Featurespace’s ARIC Risk Hub. Over the span of 2022, the company expanded its client portfolio and reach with several notable partnerships: In April 2022, Featurespace and Monavate partnered to embed a fraud solution, ARIC Risk Hub, to full-service issuing platform Monavate One. In July 2022, Australia-based gaming company VGW partnered with Featurespace to embed its fraud solution on VGW’s platform.

The news came after the announcement that Featurespace is SOC 2 Type 2 compliant - meaning that it meets five key trust service principles for securely managing customer data: security, availability, processing integrity, confidentiality, and privacy. In August 2022, UK-based payments services provider Equals Group has partnered Featurespace in order to embed the latter’s fraud prevention technologies across its platforms. In October 2022, Global Processing Services (GPS), a global payments technology platform and Featurespace, have partnered to create a market issuer processing fraud mitigation solution.

GPS will leverage Featurespace’s solution, ARIC Risk Hub, into its suite of fraud and risk management services globally, which will further strengthen its fraud infrastructure by improving fraud detection rates, reducing false positives, and addressing suspicious activity in real-time. Later in October, UK-based expense management platform Soldo has partnered with Featurespace to protect Soldo’s customers against financial attacks. It is clear that the company capitalised on their ARIC Risk Hub tool and proved its efficiency through multiple partnerships.

It remains to be seen how this campaign will continue in 2023. Railsr and its experience in embedded finance Railsr provides embedded finance experiences platform, which uses a strategic engagement tool to provide financial products and solutions, including banking and wallets, cards, credit, and rewards. The company recently closed its Series C round, raising USD 46 million consisting in USD 26 million of equity and USD 20 million of debt, in October 2022.

In June 2022 Rewards-as-a-Service (RaaS) was launched, in July 2022 direct connectivity to SEPA Instant in Europe was implemented, in August 2022 support for Confirmation of Payee in the UK went live and Railsr will formally launched Insights-as-a-Service (IaaS) in October 2022, thus augmenting the company’s existing platform. To find out more on Featurespace, please check out the company profile in The Paypers Company Database. .