Anti money laundering solutions are constantly evolving and Railsr has taken a further major step forward in the fight against fraud and financial crime.
Its partnership with Featurespace, announced today, means that Railsr customers will enjoy one of the best levels of protection the industry can offer.
Railsr is combining its own expert fraud teams with Featurespace's award winning ARIC Risk Hub.
A single integration point has been created, built around Featurespace’s fraud and anti money laundering (FRAML) solutions. This enables Railsr platform to grow in line with business expansion whilst maintaining regulatory compliance.
Market accelerates towards embedded finance
Stuart Hartley, Global Head of Product for Fincrime and Operations at Railsr, said: “As the market accelerates towards embedded finance, consumers expect a frictionless payment experience that is built into the transaction process. With Featurespace’s AI and ML capabilities, Railsr can provide an enhanced level of customer experience, making consumer’s lives simpler and safer.”
He added: “After an extensive review, the Featurespace platform, multi-tenancy capabilities, team and proven track record meant they stood out as the right technology partner for us. We share the same goals for the industry and have enjoyed building a strong collaborative relationship."
Over a period of time, Railsr customers will also be able to directly access the ARIC Risk Hub so that they can manage their own analytics.
The end result is that Railsr customers will have a one-stop shop for fraud and anti money laundering.
Added critical layer of self-learning technology
Matt Mills, Featurespace’s Chief Commercial Officer, welcomed the partnership: “The Railsr platform is a natural fit for Featurespace. As embedded finance increasingly becomes expected by consumers, making sure they are protected from fraud and financial crime must be expected in equal measure. Railsr have recognised this early and added a critical layer of self-learning technology to ensure their customers get only the best experience.”