Whish Money, a leading fintech, today announced it is collaborating with Visa to deploy Featurespace, Visa’s AI-powered fraud prevention solution, to strengthen its fraud and scam detection capabilities across multiple payment channels in Lebanon.
Fraud can span multiple transactions, channels and customer interactions, making a broader view of activity important when assessing risk. Featurespace uses Adaptive Behavioral Analytics to analyze customer activity and interactions across payment channels in real time. By bringing together transaction and behavioral data, the solution provides risk scores and decisioning designed to help identify unusual behavior and suspicious transactions.
Whish Money, which processes more than $40 billion in payments annually, will deploy these capabilities across its payments ecosystem to strengthen how it monitors and manages fraud risk as its business continues to grow.
“Protecting our customers starts before money moves,” said Jad Koussa, CEO of Whish Money. “As we grow, we need technology that can keep pace with how our customers use our services and how fraud is evolving. By deploying Featurespace, we can strengthen how we identify suspicious activity across our payment channels and make more informed risk decisions, helping our customers send, pay and receive money with greater confidence.”
Walter Lironi, Head of Value-Added Services for Central and Eastern Europe, Middle East, and Africa (CEMEA) at Visa, said: “Managing fraud increasingly requires a view that extends beyond an individual transaction. Featurespace expands the fraud prevention capabilities Visa can bring to clients by combining behavioral analytics and real-time risk scoring and decisioning with our network-level risk capabilities. This can help clients like Whish Money better understand activity across different channels and make more informed risk decisions as fraud continues to evolve.”
