COLUMBUS, Ga., June 12, 2017 — TSYS(NYSE: TSS), in conjunction with Featurespace, announced a new fraud preventionproduct today, called TSYSForesight ScoreSM with Featurespace®.Foresight Score is a fraud and riskscoring tool that incorporates innovative machine learning — a form ofArtificial Intelligence (AI) that allows software to learn over time withoutbeing explicitly programmed — to bolster an issuer’s ability to fighttransactional fraud. It was built in partnership with Featurespaceand relies on their powerful and proven adaptive behavioral analytics platform— known as ARIC®.
According to the Nilson Report®, totalfraud losses incurred by financial institutions and merchants on all types ofpayment cards was $21.84 billion in 2015, and is expected to reach $31 billionby 2020. TSYS Foresight Score is especially adept at spotting subtle variances frompredicted human behavior, allowing it to more accurately predict new andunknown fraud types.
“We are excited to add Foresight Score to ourcomprehensive suite of risk and fraud products,” said Pam Joseph, president andchief operating officer, TSYS. “We are certain that it will help our clientsdetect and prevent more transactional fraud while at that same time reducing false-positivealerts — helping increase revenue and improve operational efficiency.”
“We are thrilled to bring this innovative fraudproduct to market with TSYS,” said Martina King, chief executive officer ofFeaturespace. “Our ARIC platform was specifically designed to help manage complexproblems like transactional card fraud. Combined with TSYS’ industryexperience, and robust client base, this product has tremendous potential inthe fight against fraud.”
To learn more about TSYS ForesightScore with Featurespace, please visit our website at: www.tsys.com/foresight-score.
TSYS® (NYSE: TSS) is a leading globalpayments provider, offering seamless, secure and innovative solutions acrossthe payments spectrum — from issuer processing and merchant acquiring toprepaid program management . We succeed because we put people, and their needs,at the heart of every decision. It’s an approach we call ‘People-CenteredPayments®’.
Our headquarters are locatedin Columbus, Ga., U.S.A., with approximately 11,500 team members and localoffices spread across 13 countries. TSYS generated revenue of $4.2 billion in2016, while processing more than 25.5 billion transactions. We are a member ofThe Civic 50 and were named one of the 2017 World’s Most Ethical Companies byEthisphere magazine. TSYS is a member of the S&P 500 and routinely posts all important information on itswebsite. For more, visit tsys.com.
Featurespace™ is the world-leader in Adaptive BehavioralAnalytics and creator of the ARIC™ platform, a real-time machine learningsoftware system developed out of the University of Cambridge.
Our headquarters are in Cambridge, UK, and we have deployedARIC to organizations that have services or products deployed in over 180countries.
The ARIC™ platform – a real-time, machine learningsoftware system – monitors individual behaviors to catch new fraud attacks asthey happen. At the same time, the increased accuracy of understanding customerbehavior reduces the number of genuine customers whose purchases and transactionsare incorrectly declined. For more, visit www.featurespace.co.uk.