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Círculo de Crédito and Featurespace Partner to Innovate the Fight Against Application Fraud in Mexico

Featurespace, the leader in fraud detection and risk prevention, and Círculo de Crédito, a leading credit bureau in Latin America, announced a partnership that will introduce the ARIC™ platform to Mexico, bringing a more effective defence against application fraud to lenders in the market.

Applicable to fintech lenders, credit cards, bank accounts or loans, application fraud is a rampant problem in Mexico and occurs when a person intentionally modifies information in an attempt to illegally receive benefits (first-party fraud) or when a criminal steals personal identifiable information from someone and opens an account (third-party fraud). “Just a few years ago, our country ranked eighth globally in identity theft. It’s an increasingly growing threat to Mexico’s financial sector,” said Gustavo Lacroix, CEO of Círculo de Crédito.

The ARIC platform combines Adaptive Behavioural Analytics and anomaly detection to automatically identify risk and catch new attacks as they happen by learning the unique behaviours of applicants across all channels and building individual profiles, against which it identifies anomalies. ARIC’s industry leading accuracy in detecting suspicious behaviour facilitates higher application volume of genuine consumers, whilst simultaneously keeping the fraudsters out.

Lacroix continued, “Along with our vast data set and market expertise, this product will open up new opportunities in Latin America. This partnership will result in the first Artificial Intelligence platform for anomaly detection, which will help companies optimise the way they’re fighting fraud and allow them to prosper.”

“Criminals are constantly trying to find ways to imitate genuine customers and the problem is growing because there are more points of attack,” David Excell, CTO and co-founder of Featurespace. “Círculo de Crédito’s entire organisation is dedicated to improving the portfolio integrity of lenders in Mexico and we’re excited to support their efforts by helping them outsmart fraud, no matter how sizable or complex the challenge.”


  • Editorial Director of the The Fintech Times

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