Next-gen credit card processor, Zeta has teamed up with Featurespace, based in the UK, to improve fraud detection abilities it offers issuers in the U.S., according to a press release.
“We recognized the power of Featurespace’s solution very quickly. It’s built using technology that is truly cutting-edge, combining the latest in machine learning and behavioral analytics into a blazingly fast decision engine,” CEO and co-founder of Zeta, Bhavin Turakhia, said. “Our Issuer clients are demanding, and we are delivering to them capabilities to iterate on their credit card products faster than ever before to test and launch features in days. With this solution available out-of-the-box to our clients, their credit card holders will be protected against existing and future fraud attempts seamlessly while reducing the number of genuine transactions declined.”
Featurespace implements artificial intelligence, behavioral networks and rules-based decisioning into its fraud detection methods, while also considering the comfort of consumers and minimizing distractions. The company contributes to more than 50 billion transactions per year and the card safety of 500 million consumers across 180 countries.
The enterprise fraud and financial crime prevention company will pair its knowledge with Zeta’s flagship next-gen credit card processing stack, Zeta Tachyon, which will enable issuers to access the market at a quicker pace than legacy processors, launch transformative credit card products, customize their credited card programs across million of credit card holders and create unique IP to create a unique product.
“The stack is built with no legacy code and is 100% cloud-native, API-first and uses modern micro-services architecture and zero-trust security principles,” a recent press release affirms.
Carolyn Homberger, president of Americas at Featurespace, said the partnership between Zeta and Featurespace joins "two of the most capable solutions across the industry."
“We are very impressed with the way Zeta is rethinking the issuer processing stack from the ground up, utilizing modern and flexible architecture to provide outstanding new capabilities to Issuers. We’re extremely excited to bring our joint solution to market in the U.S,” Homberger said.