Akbank Deploys Featurespace’s Behavioral Biometrics Technology

Featurespace is providing behavioral biometrics technology for Turkey’s Akbank. In that regard, the bank will be deploying the ARIC Risk Hub to protect all of its transaction channels.

The ARIC Risk Hub is built with Featurespace’s Adaptive Behavioral Analytics platform. Like other behavioral analytics solutions, the ARIC Risk Hub monitors every transaction in real time to filter fraudulent interactions from legitimate customer activity. The platform is designed to prevent fraud without interrupting the experience of actual users.

“With Featurespace, we reduce fraud and genuine transactions declined across a dynamic range of services,” said Akbank CIRO Semih Dilmen. “This is critical to our ability to deliver a next-generation customer experience in today’s highly competitive environment.”

Akbank has a user base of 18 million customers, and currently operates 758 branches and 5,100 ATMs located throughout Turkey. It is implementing the Risk Hub to keep pace with increasingly sophisticated cyberattacks. The platform will replace the bank’s existing anti-fraud system, and will be installed with the help of DVA Bilgi Teknolojileri A.Ş.

“Criminals are always devising new scams to exploit customers and the financial institutions that serve them,” said Featurespace CEO Martina King. “By prioritizing a better customer experience through stronger fraud controls, Akbank underscores the imperative for advanced fraud detection and risk prevention systems.”

Akbank previously deployed Daon’s IdentityX solution to enable the biometric authentication of customers using mobile channels. The company selected the ARIC Risk Hub after a more exhaustive evaluation of other crime prevention options.

Featurespace, meanwhile, launched the Adaptive Behavioral Analytics platform in June of 2019, and has since gone on to provide behavioral biometric services for several major financial institutions. HSBC announced that it would be adopting the ARIC solution in September of that same year, and the Mexican credit bureau Círculo de Crédito would follow suit with its own implementation in October.

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September 22, 2020 – by Eric Weiss