Why the Customer Experience Should Drive Fraud Prevention Strategies

A solid fraud prevention strategy includes reducing false positives and ensuring an improved customer experience, Featurespace founder Dave Excell writes in a new PYMNTS eBook, “The New Value Equation: 11 Financial Services Leaders Share Their Vision for 2025.”

At Featurespace, our unwavering mission to make the world a safer place to transact has been the cornerstone of our high growth and customer satisfaction. By reducing the prevalence of fraud and financial crime, we are not only improving the society we live in but also providing a clear “call to action” for our teams and customers to do more. We continually challenge ourselves with the question: “How do we simplify and continually improve our world-class artificial intelligence (AI) fraud prevention models to outsmart the criminals?” Our long-term vision for fraud prevention ensures a secure future for all of our stakeholders, led by a reduction in fraud and a reduction in false positives — making the experience of our customers and their customers better and better.

Our strategy for 2025 remains the same as for the last 14 years and is centered around two critical considerations.

Our customers are not just clients, they are partners in our journey. In fact, most of our new leads come from existing customers, a testament to the trust they have in us. We actively listen to their needs and challenges, using their feedback to guide our product development and service enhancements. This approach ensures we always meet their evolving expectations and understand emerging fraud threats. Our decisions are always made with our customers in mind, not just for profit, which has earned us a reputation as a company “beloved” by our customers. Our commitment to customer intimacy makes them feel valued and integral to our success.

Our core principles are not just words, they are the foundation of our company. Innovation, integrity and purpose guide every decision we make. At Featurespace, we’ve continued to build the best models and platform for the financial services industry. If we had built only for the present-day need, instead of thinking about the future, we wouldn’t have invented adaptive behavioral analytics or TallierLTM, the world’s first large transaction model. Our commitment to providing exceptional value and solutions will remain unwavering in 2025 and beyond. We will continue investing in research and development to offer industry-leading products and services rather than simply providing tools for our customers. And we’ll treat our customer’s customers — the consumers, who are so often the victims of fraud, with real-life consequences — with compassion and understanding, with our true purpose always front of mind. Our commitment to our core principles reassures our customers of our direction and dedication.

Featurespace’s commitment to a world free from the financial and emotional turmoil caused by fraud and financial crime remains steadfast. Our customer-centric approach and dedication to innovation have been instrumental in our growth and success, especially as we enter this next stage of our journey. By continually evolving our AI fraud prevention solutions, we are able to stay ahead of emerging threats and protect our customers and their consumers. As we look toward 2025, our focus on customer intimacy and adherence to our core principles will continue to drive our mission of making the world a safer place to transact.

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