The Latin American credit bureau Círculo de Crédito is collaborating with Featurespace to bring the latter’s new anti-fraud platform to the Mexican market. Featurespace’s ARIC platform leverages behavioral biometrics to spot suspicious behavior, and is geared towards banks, credit card companies, and other financial services providers.
ARIC is built with Adaptive Behavioral Analytics technology, which launched over the summer and analyzes user behavior to create unique behavioral profiles of customers. Once those profiles are completed, the platform can monitor future interactions across all channels to detect anomalous activity that could point to the presence of a fraudster.
Círculo de Crédito is hoping that ARIC will help address the high rates of fraud in Mexico.
“Just a few years ago, our country ranked eighth globally in identity theft,” said Círculo de Crédito CEO Gustavo Lacroix. “It’s an increasingly growing threat to Mexico’s financial sector.”
“Criminals are constantly trying to find ways to imitate genuine customers and the problem is growing because there are more points of attack,” added Featurespace Co-founder and CTO David Excell. “Círculo de Crédito’s entire organization is dedicated to improving the portfolio integrity of lenders in Mexico and we’re excited to support their efforts by helping them outsmart fraud, no matter how sizable or complex the challenge.”
The news comes shortly after Featurespace formed a similar partnership with HSBC, making Círculo de Crédito the second major financial provider to adopt the ARIC platform since its debut.
October 4, 2019 – by Eric Weiss