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Queen’s Award for Enterprise: Innovation
Featurespace, the leading multinational machine learning company for fraud prevention and risk management, has been awarded a Queen’s Award for Enterprise in the Innovation category.
Established in 1965, the Queen’s Awards for Enterprise celebrates the UK’s small and medium sized businesses, recognising their contribution to international trade, innovation, sustainable development and promoting opportunity.
The Innovation category awards companies that have shown outstanding commercial success as a result of innovation, recouping its cost of development through success in the market.
Martina King, Featurespace CEO, commented:
“Our mission to protect customers the world over drives innovation at Featurespace. We are immensely proud of this recognition of the impact that our real-time fraud prevention technology is making to real people.
“This award recognises the passion of our employees and clients to defend customers. We are truly honoured to continue the inspirational legacy of our co-founder, Professor Bill Fitzgerald.”
Featurespace is the world leader in adaptive behavioural analytics, delivered via its machine learning ARIC platform. ARIC uses anomaly detection to analyse complex data streams in real time, building individual statistical profiles for each customer.
The ARIC platform models a pattern of normal or ‘good’ behaviour and detects anomalies, which enables it to identify fraud attacks as they happen, reducing the costs associated with managing fraud. Simultaneously, ARIC reduces the number of genuine transactions incorrectly declined, enabling businesses to accept more revenue.
Winners are invited to a Royal reception at Buckingham Palace hosted by Her Majesty The Queen.
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