Using machine learning and advanced anomaly detection, ARIC Risk Hub analyzes complex behavioral data to help financial institutions and organizations around the globe stop fraud and financial crime in real time.
Humans intuitively profile people we know over time – adapting our sense of normal patterns of behavior. If we spot someone behaving out of character, we reach out. Featurespace’s invention - adaptive behavioral analytics - works in the same way.
The ARIC Risk Hub models a pattern of normal or ‘good’ behavior at a granular level, which it uses to then detect anomalies, enabling ARIC to identify fraud and suspicious activity as it happens, reducing the costs associated with managing fraud and financial crime. Simultaneously, ARIC reduces the number of genuine transactions incorrectly declined by over 70%, enabling businesses to accept more revenue.
Organizations that have implemented the ARIC Risk Hub have achieved an average of: