Akbank Selects Featurespace’s ARIC Risk Hub to Protect Every Transaction from Fraud

ISTANBUL–()–Featurespace™, the main supplier of Enterprise Financial Crime prevention software program introduced that Istanbul-based Akbank has chosen the ARIC™ Risk Hub to scale back fraud threat, whereas growing acceptance charges throughout all transactional channels for its almost 18 million prospects.

As one in all Turkey’s largest monetary establishments with 758 branches and 5,100 ATMs all through the nation, Akbank has constructed its status on satisfying prospects with an pleasurable and safe banking expertise at each touchpoint. However, as fraud evolves, detecting and stopping assaults with out interfering with real buyer conduct is more and more difficult. Realizing this, Akbank sought to substitute its present system with a sophisticated platform that gives real-time enterprise-wide fraud detection.

Following an intensive choice course of to assess fraud and monetary crime applied sciences, Featurespace was chosen for its use of superior, self-learning fashions and the flexibility to present a holistic view of shoppers.

Featurespace has partnered with DVA Bilgi Teknolojileri A.Ş. to implement ARIC Risk Hub, which is able to safeguard each transaction throughout the entire financial institution’s channels, whereas additionally decreasing the variety of good transactions which can be mistakenly blocked.

Powered by Adaptive Behavioral Analytics, a Featurespace invention, ARIC Risk Hub is an award-winning fraud detection and monetary crime prevention platform with absolutely adaptive machine studying fashions that ship real-time transaction monitoring for fraud and monetary crime. This permits banks and cost suppliers to spot extra fraud and suspicious exercise because it occurs, whereas additionally decreasing the variety of real transactions declined.

Semih Dilmen, Chief Information Risk Officer of Akbank, stated, “With Featurespace, we reduce fraud and genuine transactions declined across a dynamic range of services. This is critical to our ability to deliver a next-generation customer experience in today’s highly competitive environment.”

Martina King, CEO of Featurespace, added, “Transaction volumes continue to increase in Turkey and criminals are always devising new scams and attacks to exploit customers and the financial institutions that serve them. By prioritizing a better customer experience through stronger fraud controls with ARIC Risk Hub, Akbank shows why it is a leader and underscores the imperative for advanced fraud detection and risk prevention systems.”

ENDS

About Akbank – www.akbank.com

Founded in 1948, Akbank presents a variety of retail, industrial, company, non-public banking and worldwide commerce finance providers. Also, non-banking monetary, capital market and funding providers are offered by the Bank’s subsidiaries, together with Akbank AG, Ak Lease, Ak Investment Fund, Ak Asset Management, and Tosla. Akbank is headquartered in Istanbul, Turkey and has 758 branches and over 12,000 staff.

About Featurespace – www.featurespace.com

Featurespace™ is the world chief 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 studying software program that threat scores occasions in additional than 180 nations to stop fraud and monetary crime.

ARIC™ Risk Hub makes use of superior, explainable anomaly detection to allow monetary establishments to mechanically establish threat, catch new fraud assaults and establish suspicious exercise in real-time. More than 30 main international monetary establishments are utilizing ARIC to defend their enterprise and their prospects. Publicly introduced prospects embrace HSBC, TSYS, Worldpay, NatWest Group, Contis, Danske Bank, ClearBank and Permanent TSB.

About DVA Bilgi Teknolojileri A.Ş. – www.dva.com.tr

DVA Bilisim is the native associate of Featurespace in Turkey. DVA presents native help and upkeep to the most important banks in Turkey and Azerbaijan who want to use the ARIC™ Risk Hub.

With round 20 professionals, DVA presents consultancy, mission administration and implementation of the ARIC™ Risk Hub to struggle in opposition to fraud. DVA can be offering face biometry, digital on-boarding, KYC, doc authentication and behavioural biometrics options

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