-
Featurespace, a global leader in enterprise financial crime prevention, and Diebold Nixdorf, a global leader in automating, digitizing, and transforming the way people bank and shop, announced today that the two companies are partnering to integrate Featurespace’s highly specialized fraud prevention technology into Diebold Nixdorf’s Vynamic Payments platform.
Diebold Nixdorf can offer financial institutions a fully integrated payments system with tested real-time fraud detection and prevention capabilities through a partnership with Featurespace without worrying about maintaining several vendors. A proven solution with top financial institutions worldwide, Vynamic Payments is a cloud-native payments platform that permits the reuse of services across the acquiring, processing, and issuing domains.
Because of the software’s microservice architecture, any channel, interaction point, payment type, or authentication mechanism can be smoothly bridged for customers.
Due to their world-beating, real-time accuracy even at enormous scale, Featurespace’s solutions are ideally suited for deployment into payment platforms. Their real-time machine learning takes the novel approach of utilizing only the necessary data from the authorization stream to deliver improved results without latency or heavy workloads associated with large data integration projects.
Fraud prevention is a crucial aspect of upgrading all payments, CEO of Featurespace. By incorporating ARIC Risk Hub into their transaction monitoring and processing, financial institutions will be able to safeguard all of their customers and all of their transactions as a result of this relationship. increase.”
The world’s most potent card and payment model is offered by ARIC Risk Hub, which can be linked with Vynamic Payments via open APIs. This model helps clients achieve industry-leading fraud detection rates with the fewest false positives. It assists and lowers overall fraud expenses for the bank. The platform’s automated deep behavioral networks and adaptive behavioral analytics automatically identify and stop the most intricate forms of financial fraud.
Joe Myers, Executive Vice President of Global Banking at Diebold Nixdorf, said: Fraud management is an important part of the payments ecosystem. Integrating our end-to-end solution into the Vynamic Payments platform provides financial institutions with the most powerful and open technology to combat fraud and financial crime. “