Featurespace Patents Show Role Of Neural Networks In Finding Transaction Anomalies In Real Time

Fraud and account takeover represents a $40 billion problem for financial institutions (FIs) that have only milliseconds to pinpoint high-risk transactions. With two new patent filings, Dave Excell, founder of Featurespace, tells Karen Webster how deep learning networks can spot “behavioral anomalies” caused by fraudsters by better understanding the meaning of the transaction without the need for prior context.