Betfair Extends Anti-Fraud Contract

This week Betfair extended its anti-fraud technology partnership with Cambridge University-associated Featurespace. The companies have been able to identify fraudulent activity in real time by analyzing specific data. The contract includes and upgrade to Featurespace's ARIC engine offering "infinite horizontal scalability", says the company. Even as the number of Betfair customers increases, the fraud detection will continue to support automated real time monitoring especially with major events such as the Grand National. With Featurespace's ARIC technology, Betfair has the ability to analyze millions of transactions each day reducing fraud losses and improving risk management procedures. Martina King, CEO of Featurespace, said, “Fraud is becoming increasingly sophisticated, so companies need a solution that keeps them ahead, identifies new types of fraud, and reacts to it instantly - closing the door on vulnerabilities before they can be exploited." King also said that Featurespace has utilized Bayesian inference and machine learning, with ARIC to view behavior at individual and group levels.