Visa: acquires Featurespace in fraud detection
(CercleFinance.com) - Visa announced on Thursday that it had reached a definitive agreement to acquire Featurespace, a specialist in the prevention and real-time detection of transactional fraud using AI.
The US payments giant explains that the acquisition of Featurespace, a company founded in 2008 by engineers from Cambridge University, will enable it to strengthen its fraud protection and risk scoring tools.
The transaction, whose financial terms were not disclosed, is expected to be completed in Visa's FY 2024/2025, which from end-September.
Featurespace currently boasts some 80 major customers of the calibre of HSBC, NatWest, Worldpay, Danske Bank and Edenred, with staff numbers exceeding 400 spread over six offices.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The US payments giant explains that the acquisition of Featurespace, a company founded in 2008 by engineers from Cambridge University, will enable it to strengthen its fraud protection and risk scoring tools.
The transaction, whose financial terms were not disclosed, is expected to be completed in Visa's FY 2024/2025, which from end-September.
Featurespace currently boasts some 80 major customers of the calibre of HSBC, NatWest, Worldpay, Danske Bank and Edenred, with staff numbers exceeding 400 spread over six offices.
Copyright (c) 2024 CercleFinance.com. All rights reserved.