Five year partnership between Betfair and Featurespace
Online betting exchange Betfair has agreed an upgraded five-year partnership with predictive technology business Featurespace as part of a move to further combat fraud.
The ComputerWorldUK.com website said that the existing five-year agreement between the two firms supplied Betfair with fraud detection technology, which allowed Betfair to predict and identify in real time fraudulent behaviour.
The new arrangement will include an upgrade to Featurespace’s ARIC engine, which will bring with it 'infinite horizontal scalability'. This will enable Featurespace’s Adaptive Behavioural Analytics approach to automating fraud to continue to run in real time.
Betfair will be able to handle major events without reporting to manual review and rule-based systems. As a result, the online betting exchange can monitor and analyse millions of transactions each day, identify unusual behaviour patterns and spot customer fraud.
Martina King, chief executive officer of Featurespace, said: 'Fraud is becoming increasingly sophisticated, so companies need a solution that keeps them ahead, identifies new types of fraud, and reacts to it instantly – closing the door on vulnerabilities before they can be exploited.'