Visa Acquires AI Leader Featurespace for Payments Protection

Featurespace's AI Expertise Will Enhance Visa's Fraud, Risk and Payments Technology Michael Novinson (MichaelNovinson) • September 26, 2024

Visa plans to purchase a fraud prevention vendor founded by a Cambridge University doctoral student to provide protection against payment fraud and financial crime risks.

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The San Francisco-based payment card services giant said its acquisition of Cambridge, England-based Featurespace will protect financial services organizations from fraud and boost Visa's portfolio of risk-scoring and fraud detection services for clients worldwide. Featurespace's platform detects anomalies in payment behavior and has more than 80 direct customers, including big banks such as HSBC and NatWest.

"Providing our clients with solutions that can adapt to and anticipate the changing threat landscape is of the utmost importance," said Antony Cahill, Visa's global head of value-added services. "Featurespace's strong foundation in ...