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Global AI fraud and financial crime prevention company Featurespace, has launched a campaign to thank Fraud Professionals for all keeping consumers safe.
The campaign brings a smile to the faces of those protecting the world’s payments, positioning Featurespace as banks’ and FIs’ ‘Fraud Prevention Sweetheart’, with hand-written Valentines and personalised sweethearts being hand-delivered by Featurespacers to their customers around the globe.
The personalised sweethearts have been lovingly crafted with messages that might be extra romantic to fraud fighters at banks and financial institutions, with sweet and spicy messages including “Scams B Gone” “aI will protect u” and “false + <” (false positive reduction is a key indicator of strong fraud defences).
Global fraud rates are spiralling. Three in ten (30%) UK adults have been victims of financial fraud, and more than half (55%) have seen increased scam attempts in the last 12 months. The latest figures from UK Finance indicate that fraud is now the most common crime in the UK, accounting for 40% of all offenses recorded in England and Wales and resulting in losses of almost £1.2 billion. UK romantics spent £2.1 billion on Valentine's Day last year*, which puts consumers squarely in the sights of unscrupulous fraudsters looking to take advantage of consumers.
Kendra Rogers-Kelly, Chief Communications & Marketing Officer at Featurespace, explains: “Behind the scenes of these big holidays that cause huge fraud spikes, fraud professionals in banks and financial institutions work tirelessly to keep consumers safe and stop criminals. We wanted to share the love with fraud fighters this Valentine’s Day whilst also highlighting the increased risk consumers face at this time of year due to the rise in romance fraud.
“It’s been a transformative year for Featurespace but our achievements wouldn’t have been possible without the support of our customers. We wanted to recognise our strong bonds with this playful global campaign.”
Featurespace provides ground-breaking solutions using AI and machine learning to help banks and financial institutions crack down on fraud. Featurespace’s technology processes over 50 billion transactions each year to protect more than 500 million consumers globally in over 100 counties.
In Q4 2024, Featurespace was successfully acquired by Visa to bolster its fraud protection capabilities and enhance security for its customers and consumers worldwide.
Featurespace has recently won several major awards including Best Industry Innovation and Best Application of AI or ML in Financial Services (Card and Payments Awards), Best Digital Solution Provider (Banking Tech Awards), one of UK’s top AI start-ups (The Times), and Tech Businesswoman of the Year (UK Tech Awards).
* Figures from Mintel's UK Valentine's Day Market Report 2024.
ENDS
Methodology: Opinium research of 2,000 UK adults weighted to be nationally representative. Research undertaken between 19th and 23rd April 2024.
Notes to editors:
Media contact: [email protected]
About Featurespace, a Visa Solution
Featurespace, a Visa Solution, is a global, AI-native transaction monitoring company that helps to prevent fraud and financial crime. Using artificial intelligence, it analyses data in real time to identify and stop existing and new forms of fraud and financial crime.
Delivering on its mission to make the world a safer place to transact, Featurespace works with many of the world’s largest banks and financial institutions, protecting 500 million consumers globally and safely processing over 100 billion payment events each year.
Over 100,000 businesses put their trust in Featurespace’s technology including HSBC, NatWest, TSYS, Worldpay, Danske Bank, Akbank and Edenred. Founded in 2008, and headquartered in Cambridge, UK, Featurespace has more than 400 team members, operating globally from six locations. Learn more at featurespace.com.
Kendra Rogers-Kelly
Featurespace
+44 1223 345940
email us here
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