Visa is reportedly in advanced discussions to acquire British fraud detection company Featurespace in a deal potentially worth more than £700m, according to sources cited by Sky News. The final value could be lower, and the deal has not yet been finalized, leaving it at risk of cancellation. This news follows the recent death of Featurespace's former non-executive director and tech investor, Mike Lynch, whose firm, Invoke Capital, holds a small stake in Featurespace. Established in 2008, Featurespace specializes in enterprise technology to prevent fraud and financial crime, with clients including HSBC, NatWest, and Worldpay.
The company’s ARIC Risk Hub offers machine learning solutions for fraud prevention, and its ARIC Scam Detect tool provides real-time protection against various scam types. Featurespace recently partnered with PAYSTRAX to enhance security measures against fraud.
Source: Future Banking
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