However, with U.S. banks losing close to $11 billion to fraud annually, and declining consumer trust, it’s obvious companies need to employ state-of-the-art technologies to detect and protect the health of the banking and financial services industry.
Brussels, Belgium (PRWEB) November 03, 2014
The Belgian company, Features Analytics, is introducing their flagship service, eyeDESTM predictive modeling platform, at the Money 20/20 conference this week in Las Vegas. The patent-pending eyeDESTM platform, developed by the company’s founder Cristina Soviany, Ph.D. and her R&D team, stems from groundbreaking ultrasound cancer tissue characterization technology used for detecting and predicting prostate cancer.
“At first the migration from identifying complex life-threatening cancer cells to detecting fraud for financial organizations may seem like an unusual leap,” said Soviany. “However, with U.S. banks losing close to $11 billion to fraud annually, and declining consumer trust, it’s obvious companies need to employ state-of-the-art technologies to detect and protect the health of the banking and financial services industry.”
“The technology we’ve developed over the past several years translates due to the uncanny similarities between detecting cancer and fraud. Both have complex and large data sets that require sophisticated learning algorithms to detect abnormal cells or suspicious behavior. Both require precision and accuracy in diagnosing to reduce false positives. And you must gain the trust and confidence in the consumer/patient with your course of treatment.”
Features Analytics’ eyeDESTM predictive modeling platform is the first complete, fully integrated and configurable, solution enabling the following:
- Accurate and precise modeling results.
- Increased stability of predictions.
- Lower costs and technical resources.
- Improved speed and ease in moving a multitude of highly segmented models from development to testing, to deployment, and then to on-demand retrain/refresh scenarios.
This custom predictive modeling platform supports the diverse needs of major merchants, large financial institutions and every financial services company in between. The eyeDESTM technology provides better control over data allowing for more strategic, real-time decision-making. Features Analytics offers this innovative platform, with the ability to build and support custom models, tailored specifically to the risk tolerances and business objectives of each company.
“It’s no secret organizations have spent hundreds of millions of dollars and many years of development on various decision analytic point solutions to detect and prevent fraud,” said Frank Caruana, Chief Revenue Officer / US, interim. “Yet, the industry now requires a more coherent and fully integrated technology platform to move from sophisticated modeling through to runtime deployment, with increased speed, control and cost savings. Without a highly predictive, adaptive and easily deployable modeling solution, like eyeDESTM, businesses will continue to absorb unnecessary risks and costs that not only impact their bottom line, but also infringe upon their brand reputation.”
Features Analytics custom modeling solutions are delivered faster and with less cost than traditional fraud prevention measures, creating and deploying segmented models based on sophisticated machine learning algorithms to a broader set of business problems, addressing the needs of each institutions’ line of business or risk area.
You can contact Features Analytics at Money 20/20 using their messaging app, by visiting the website at http://www.features-analytics.com. For direct contact, email Frank Caruana at firstname.lastname@example.org.
About Features Analytics
Features Analytics specializes in data modeling and predictive analytics used for detecting payment fraud with solutions for eCommerce merchants, card issuers, acquirers and payment processors. Our team leads the continued research and development of the eyeDES™ Scoring Engine, designed and implemented for the detection of payment fraud. The eyeDES™ technology first launched commercially in 2012 under the business name IDES Technologies, after having received the award for most promising European IT start-up of the year. In mid-2014 the company rebranded as Features Analytics continues further developments of the eyeDES™ platform, such as cloud services. For more information, please visit us online at http://www.features-analytics.com.