IDG Connect Featurespace: 'Accidental ' revenue via machine-learning-driven fraud detection

One of the most frustrating holiday experiences I ever had was when my bank decided to lock me out of my account the minute I touched down at my destination. In short, it decided my financial activity was suspicious, my attempt to withdraw cash in Italy was probably fraudulent, and took a whole load of expensive phone calls to convince it otherwise. This is precisely the kind of situation that Featurespace is helping organisations to limit. "You can't stop 100% false positives," – i.e., these untrue notifications of fraud – says the CEO Martina King, over the phone from the company headquarters in Cambridge, UK. "But we lead to a 70% reduction."