By Gloria Methri
Embedded finance platform Railsr has partnered with Featurespace to protect its customers and their consumers from the growing threat of fraud and financial crime.
The partnership will see Railsr combine its expert fraud teams with Featurespace’s ARIC Risk Hub, which offers multiple solutions for fraud and Anti-Money Laundering analysts .
Featurespace’s fraud and AML (FRAML) solution will provide a single integration point, enabling Railsr’s platform to grow in line with business expansion and maintain regulatory compliance.
“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.” said Stuart Hartley, Global Head of Product for Fincrime and Operations.
“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”.
Within 12 months, Railsr will provide their customers access to ARIC Risk Hub so they can manage their own analytics directly. This will give Railsr’s customers a one-stop shop for FRAML in a multi-tenancy instance with a harmonized UI for fraud and AML.
“The Railsr platform is a natural fit for Featurespace,” said Matt Mills, Featurespace’s Chief Commercial Officer. “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 recognized this early and added a critical layer of self-learning technology to ensure their customers get only the best experience.”