TSYS Announces Foresight Score with Featurespace
June 12 2017 - 8:30AM
Business Wire
New machine learning fraud score helps prevent fraud while
reducing false-positives and improving customer experience
TSYS (NYSE: TSS), in conjunction with Featurespace, announced a
new fraud prevention product today, called TSYS Foresight ScoreSM
with Featurespace®. Foresight Score is a fraud and risk scoring
tool that incorporates innovative machine learning — a form of
Artificial Intelligence (AI) that allows software to learn over
time without being explicitly programmed — to bolster an issuer’s
ability to fight transactional fraud. It was built in partnership
with Featurespace and relies on their powerful and proven adaptive
behavioral analytics platform — known as ARIC®.
According to the Nilson Report®, total fraud losses incurred by
financial institutions and merchants on all types of payment cards
was $21.84 billion in 2015, and is expected to reach $31 billion by
2020. TSYS Foresight Score is especially adept at spotting subtle
variances from predicted human behavior, allowing it to more
accurately predict new and unknown fraud types.
“We are excited to add Foresight Score to our comprehensive
suite of risk and fraud products,” said Pam Joseph, president and
chief operating officer, TSYS. “We are certain that it will help
our clients detect and prevent more transactional fraud while at
that same time reducing false-positive alerts — helping increase
revenue and improve operational efficiency.”
“We are thrilled to bring this innovative fraud product to
market with TSYS,” said Martina King, chief executive officer of
Featurespace. “Our ARIC platform was specifically designed to help
manage complex problems like transactional card fraud. Combined
with TSYS’ industry experience, and robust client base, this
product has tremendous potential in the fight against fraud.”
To learn more about TSYS Foresight Score with Featurespace,
please visit our website at: www.tsys.com/foresight-score.
TSYS® (NYSE: TSS) is a leading global payments provider,
offering seamless, secure and innovative solutions across the
payments spectrum — from issuer processing and merchant acquiring
to prepaid program management . We succeed because we put people,
and their needs, at the heart of every decision. It’s an approach
we call ‘People-Centered Payments®’.
Our headquarters are located in Columbus, Ga., U.S.A., with
approximately 11,500 team members and local offices spread across
13 countries. TSYS generated revenue of $4.2 billion in 2016, while
processing more than 25.5 billion transactions. We are a member of
The Civic 50 and were named one of the 2017 World's Most Ethical
Companies by Ethisphere magazine. TSYS is a member of the S&P
500 and routinely posts all important information on its website.
For more, visit tsys.com.
About Featurespace
Featurespace™ is the world-leader in Adaptive Behavioral
Analytics and creator of the ARIC™ platform, a real-time machine
learning software system developed out of the University of
Cambridge.
Our headquarters are in Cambridge, UK, and we have deployed ARIC
to organizations that have services or products deployed in over
180 countries.
The ARIC™ platform – a real-time, machine learning software
system – monitors individual behaviors to catch new fraud attacks
as they happen. At the same time, the increased accuracy of
understanding customer behavior reduces the number of genuine
customers whose purchases and transactions are incorrectly
declined. For more, visit www.featurespace.co.uk.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170612005230/en/
TSYSMedia RelationsCyle Mims, +1
706-644-3110cylemims@tsys.comorInvestor RelationsShawn Roberts, +1
706-644-6081shawnroberts@tsys.comorFeaturespaceRebecca Amos,
+44.1223.345.921Head of
Marketingrebecca.amos@featurespace.co.uk
Total System Services (NYSE:TSS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Total System Services (NYSE:TSS)
Historical Stock Chart
From Apr 2023 to Apr 2024