Callcredit deal boosts fraud busting

Callcredit is beefing up its fraud detection services by joining forces with Featurespae, a company which specialises in behaviour analytics to spot when a crime might be taking place.
The company will be using Featurespace’s Adaptive Behavioural Analytics (ARIC) engine to spot trends and patterns happening within its own data. Featurespace estimates that it has information on nearly everyone in the UK.
As well as being able to detect fraud, the technology uses so-called “machine learning” to detect variations to confirm unusual credit behaviour.
Callcredit head of fraud & ID John Cannon explained: “We have lots and lots of data, but having analytics to spot the value of the data is just as important. Equally important is spotting behavioural changes that might look unusual and may be fraud, but are just changes around the individual that is actually not fraud.”
He added: “Let’s say a credit or debit card gets declined by the bank for unusual behaviour – for instance when you’ve gone abroad – it’s an inconvenience for the customer and not a great experience. That behaviour is different, but there’s a reason, so the system can allow genuine customers to get through.”
Cannon says that Featurespace’s offers advanced learning behaviour that the company could not generate itself and has been unable to find in other companies.
“We recognise other companies that are innovative and we look to partner where we can with the best technologies. Featurespace has a really unique capability in what it does. They are the analytics of the future that will be more widely adopted and we’re getting in at an early stage to be firmly associated with it.”

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