Member Article

Leeds company gets tough to fight fraud

Leeds credit ratings agency, Callcredit Information Group, has invested in new technology to help in the fight against fraud.

The company, the UK’s second largest credit ratings agency, has announced a new partnership with Featurespace, a hi-tech analytics firm, to further enhance its services in relation to identity fraud.

Callcredit, based in Leeds city centre, provides it clients with in-depth fraud detection by analysing their regular buying habits and identifying and irregularities and potential instances of fraud.

The new technology from Featurespace will allow Callcredit to extract a more detailed insight from client data and therefore provide a much more accurate outcome, preventing more serious cases of fraud.

John Cannon, head of fraud and ID at Callcredit Information Group explained: “It’s increasingly tough for experts to be able to notice subtle changes in the vast amounts of data we hold. As a result, we needed a machine based approach that is self-learning, real time and able to spot subtle changes. Experts still need to interpret the output, and it’s this that determines the difference between success and failure for our clients’ businesses. We have been working closely with Featurespace’s advanced analytics to detect fraud and I am delighted to announce we are entering into a more strategic relationship which is great news for Callcredit, our clients and ultimately our clients’ customers.”

In addition, the partnership will provide Callcredit with access to Featurespace’s core Adaptive Behavioural Analytics engine – ARIC, and its team of data scientists, as well as providing security for consumers and merchants using mobile payments.

The ARIC engine uses some of the most advanced technology available to create the only adaptive behavioural analytics software in existence that can predict the future.

The partnership will enable Callcredit to develop new solutions thanks to ARIC’s ability to understand individual and group behaviour in real time and interpret human interaction events before they occur.

Martina King, CEO of Featurespace said: “The ARIC engine enables clients’ to understand the positive and negative behaviour of their customers. Our solutions range from the most up-to-date fraud identification, to churn predictors and customer analysis. Combining Callcredit’s impressive data sets with our unique analytical approach will create a truly innovative partnership. Data is set to become one of the most valuable commodities this century, but it’s what we do with it that will create the real value.”

This was posted in Bdaily's Members' News section by Anna Addison .