San Francisco, CA, March 21, 2023: Zeta, a next-gen credit card processor, and Featurespace, a world leader in enterprise fraud and financial crime prevention, today announced their partnership to bring to market a solution that combines best-in-class credit card processing and fraud detection for Issuers in the US.
Featurespace offers the leading fraud detection engine available today, utilizing a combination of artificial intelligence, behavioral networks, and rules-based decisioning to identify fraud without disrupting the customer experience. Featurespace’s ARIC™ Risk Hub solution is trusted to keep over 50 billion transactions safe per year across 500 million consumers with a geographical footprint in 180 countries.
Zeta’s flagship next-gen credit card processing stack - Zeta Tachyon - allows Issuers to go to market more quickly than legacy processors, launch transformative credit card products, hyper-personalize their credit card programs across millions of credit card holders, and develop unique IP to differentiate their products from other Issuers. The stacks is built with no legacy code and is 100% cloud-native, API-first, and uses modern micro-services architecture and zero-trust security principles.
“We recognized the power of Featurespace’s solution very quickly. It’s built using technology that is truly cutting-edge, combining the latest in machine learning and behavioral analytics into a blazingly fast decision engine,” said Bhavin Turakhia, CEO and Co-founder of Zeta. “Our Issuer clients are demanding, and we are delivering to them capabilities to iterate on their credit card products faster than ever before to test and launch features in days. With this solution available out-of-the-box to our clients, their credit card holders will be protected against existing and future fraud attempts seamlessly while reducing the number of genuine transactions declined.”
“The partnership between Zeta and Featurespace brings together two of the most capable solutions across the industry in each’s segments,” said Carolyn Homberger, President of Americas at Featurespace. “We are very impressed with the way Zeta is rethinking the issuer processing stack from the ground up, utilizing modern and flexible architecture to provide outstanding new capabilities to Issuers. We’re extremely excited to bring our joint solution to market in the US.”
Zeta and Featurespace’s partnership will enable a range of capabilities for credit card Issuers - all delivered on a modern, cloud-native, and API-first system that is blazing fast and drives high transaction approval rates:
Zeta empowers issuers to launch next-gen credit card programs with its cloud-native and fully API-enabled stack that includes processing, issuing, lending, core banking, fraud, loyalty, and many other capabilities. Zeta has 1700+ employees & contractors with over 70% in technology roles across locations in the US, UK, Middle East, and Asia. Globally, 35+ customers have issued 15M+ cards on Zeta’s platform. Zeta has raised $280 million from Softbank Vision Fund 2, Mastercard, and other investors at a $1.5 billion valuation. Watch a short 7 minute video showcasing a fraction of the capabilities of Zeta Tachyon’s Credit processing stack here. Visit us at www.zeta.tech or follow us on LinkedIn, Youtube and Twitter.
Featurespace is the world leader in enterprise grade technology that prevents fraud and financial crime. With a mission to make the world a safer place to transact, Featurespace helps banks and financial institutions protect customers, and reduce risk and business operating costs by providing industry-leading machine learning, financial crime prevention solutions. Featurespace invented Adaptive Behavioral Analytics and Automated Deep Behavioral Networks and is the first to profile both genuine and fraudulent behavior to identify and block criminal activity in real time. Both are patent pending technologies that are central to Featurespace’s award winning ARIC™ Risk Hub. Over 70 direct customers and 100,000 financial institutions have put their trust in Featurespace’s technology including HSBC, NatWest, Worldpay, Contis, Danske Bank, Akbank, Edenred and Permanent TSB. Founded in 2008, and headquartered in Cambridge, UK Featurespace has a team of over 400, operating globally from seven locations.
The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information: bankcardlife.com?orid=33533&opid=1 .
Source: Company press release.
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