NatWest has deployed a fraud, scams and cyber crime hub from Featurespace.

The banking group is using Featurespace’s Enterprise Financial Crime prevention software for enterprise-wide transaction monitoring and payments fraud detection – including threats posed by Authorised Push Payments (APP) and scams.

ARIC Risk Hub uses adaptive behavioural analytics in its platform to protect customers.

Individual behavioural activity is monitored in real time, allowing financial institutions to catch more fraud and prioritise alerts of suspicious, while reducing the number of genuine transactions declined.

After selecting Featurespace in late 2019, NatWest completed an enterprise-wide deployment of ARIC Risk Hub earlier this year to detect anomalies and protect customers in real time by collating account-level data across all touch points.

Alasdair MacFarlane, head of fraud prevention and response at NatWest, said: “As we facilitate greater control over the access and movement of money for customers, our systems must be able to instantly determine if activity is genuine so that the high level of convenience is matched by uncompromising security standards.

"In our continued efforts to optimise our fraud and risk strategies, ARIC Risk Hub's ability allows us to adapt to and detect new fraud and suspicious activity
in real time."

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