Visa completes acquisition of Featurespace, becoming part of Visa Risk and Identity Solutions Business Unit

Clients around the world will experience superior fraud detection and risk-scoring solutions.

Visa announced it has completed its acquisition of Featurespace, a developer of real-time artificial intelligence (AI) payments protection technology that prevents and mitigates payments fraud and financial crime risks. „This will bolster Visa’s fraud protection capabilities and enhance security for its customers and consumers worldwide.” – according to the press release.

„Visa will add Featurespace’s capabilities into its range of fraud prevention and risk-scoring offerings. By combining the two companies’ highly complementary products and tools, customers will have access to enhanced fraud protection services to help keep their businesses safe and secure, including real-time detection of sophisticated fraud attacks, without adding friction to the user experience.” – the company explained.

Antony Cahill, President, Value-Added Services at Visa, said: “We are thrilled welcome Featurespace to Visa. Both our companies have been at the forefront of using AI to solve longstanding challenges and pain points in the payments industry. Together, we will offer a valuable combination of cutting-edge technology and industry expertise to help our clients continue to grow amidst an increasingly complex threat landscape.”

Over the coming months, Featurespace’s product portfolio will be incorporated into Visa’s existing offering, expanding the available range of fraud prevention solutions and use cases.

Dave Excell, Founder of Featurespace, added: “We developed our innovations to help crack even the most complex fraud cases. As part of Visa, we will be able to set a new standard in AI-powered fraud prevention and integrate our solutions into a series of products and services that will help make the world a safer place to transact.”

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Featurespace is a global, AI-native transaction monitoring company that helps to prevent fraud and financial crime. Using artificial intelligence, it analyses data in real time to identify and stop existing and new forms of fraud and financial crime.

Delivering on its mission to make the world a safer place to transact, Featurespace works with many of the world’s largest banks and financial institutions, protecting 500 million consumers globally and safely processing over 100 billion payment events each year.

Over 100,000 businesses put their trust in Featurespace’s technology including HSBC, NatWest, TSYS, Worldpay, Danske Bank, Akbank and Edenred. Founded in 2008, and headquartered in Cambridge, UK, Featurespace has more than 400 team members, operating globally from six locations.