Case Study: NatWest improves fraud and scam detection with Featurespace

NatWest improves scam detection by 135% with Featurespace

NatWest, a major UK bank, was struggling with its incumbent fraud detection system's ability to effectively identify fraud and scams. Seeking a more efficient solution to combat evolving fraud tactics, the bank partnered with Featurespace in 2019 to implement a real-time fraud detection platform that utilizes adaptive machine learning models.

The solution implemented by Featurespace provided NatWest with a new first line of defense. This deployment resulted in significant and immediate improvements, including a 57% increase in the value of fraud detected and a 135% improvement in the value of scams detected. Featurespace's platform also drastically reduced false positives for scams by 75%, enhancing the customer experience while better protecting them from harm.

NatWest