PwC UK has joined forces with Featurespace, an adaptive behavioral analytics risk prevention company, to provide financial services firms with advanced technologies to combat real-time financial crime attacks.
Featurespace said that its platform will help clients of PwC UK combat financial crime risk by giving them real-time understanding of each individual customer’s behaviour.
Featurespace’s machine learning software system ARIC monitors individual behaviours to catch new fraud attacks as they happen.
PwC financial crime analytics director Scott Samme said: “Featurespace’s technology presents an innovative way for the Financial Services industry to prevent and detect financial crime in real time. This allows us to assist our clients to become more effective and efficient in tackling financial crime risk.”
Featurespace CEO Martina King commented: “Protecting organisations from financial crime risk is our mission. Through this agreement with PwC, we can help organisations to outsmart the criminals by understanding individual behaviours in real time.”