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Featurespace files patents to halt enterprise financial crime

  • Date 14 Jul 2021

Featurespace, the leading provider of Enterprise Financial Crime prevention technology for fraud and anti-money laundering, has filed two global patents that will enable new levels of customer protection in the financial industry.
The first patent is for Featurespace’s Automated Deep Behavioral Networks for the card and payments industry. Automated Deep Behavioral Networks are a deep neural network architecture of connections and updates that recognize and prevent significantly more fraud cases. Deep neural networks have revolutionized areas such as image recognition and text understanding by creating specific architectures (connections and weights) designed to extract meaning from the underlying data presented to the network.

Automated Deep Behavioral Networks solves the problem of finding a neural net architecture that extracts meaning from transaction sequences producing a much higher distinction between genuine and fraudulent transactions.

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