The payments landscape is fractured, and that fragmentation is costing the financial sector billions. In a world where a customer might use a physical card, a virtual card, or an instant bank transfer—often within minutes—financial institutions (FIs) are struggling to keep pace with the sheer volume, velocity, and complexity of transaction data. Fraudsters thrive in this environment, exploiting the cracks that exist between disparate payment channels. As fintechs and digital banks scale their ambitious offerings, the old approach of managing card fraud in one system and payment fraud (like Account-to-Account or P2P) in another is no longer tenable. It creates operational bottlenecks, blinds fraud analysts to critical behavioral patterns, and ultimately leads to rising fraud losses and poor customer experiences.
Enter ‘One View,’ the groundbreaking fraud detection solution launched by Thredd, a leading next-generation global payments processor, in collaboration with Featurespace, a global innovator in fraud and financial crime detection and a Visa solution. This first-to-market platform is set to be a significant turning point for the fintech ecosystem. By intelligently monitoring both card and non-card payments under a single, network-agnostic interface, One View provides the holistic, 360-degree customer view that the industry has desperately needed. It’s not just an improvement on existing technology; it’s a fundamental shift in how fraud is fought, designed to enable FIs to better protect their customers while drastically streamlining their own operations.
The Critical Problem: Why Siloed Fraud Systems Fail
To fully appreciate the necessity of One View, one must first understand the severe challenges of the current multi-channel payments environment. Today’s digital customers interact with their money across numerous touchpoints: a debit card for online shopping, a virtual corporate card, and an instant payment app using faster payment rails.
For a fraud operations team, this variety of instruments presents a nightmare of data silos. Card transactions are processed, monitored, and analyzed via the issuer processor’s platform, often using rule-based engines. Non-card transactions—such as Account-to-Account (A2A) and Person-to-Person (P2P) payments—are monitored via a different, proprietary payment engine. These two systems rarely, if ever, share data effectively.
The Consequences: Blind Spots and Operational Friction
This architectural fragmentation leads directly to two major flaws in any organization’s fraud defense: severe blind spots for fraud detection and crippling operational inefficiency.
- Fatal Blind Spots for Fraud: The most sophisticated fraud attacks are multi-channel. For example, a fraudster might test a compromised card with a series of small, easily-missed transactions (card fraud) before immediately moving the bulk of a stolen amount to an external ‘mule’ account via an A2A transfer (payment fraud). When these two event types are viewed in isolation—as they are in siloed systems—the individual parts may look low-risk or normal. Only when the full sequence of behavior is analyzed in a single, unified view does the coordinated, criminal attack pattern become obvious. This siloed approach literally prevents fraud teams from spotting the entire, context-rich pattern of criminal behavior.
- Crippling Operational Inefficiency: Fraud analysts are forced into a constant state of context-switching, manually logging into and out of multiple user interfaces, cross-referencing alerts from separate rules engines, and attempting to stitch together different reporting formats. This process is time-consuming, mentally taxing, and slows down response times. Every minute lost searching for data across disconnected systems is a minute a fraudster has to complete their crime. This friction creates a significant strain on internal resources, leading to slower resolution times and increasing the total financial burden of running fraud operations.
Thredd and Featurespace designed One View specifically to collapse these performance-inhibiting silos, ensuring that the technology used to fight financial crime is finally aligned with the complex reality of how money moves and how criminals operate in the digital age.
One View: The Unified Defense Powered by Adaptive AI
The core innovation of One View is its ability to ingest, normalize, and analyze all payment types—card, A2A, and P2P—within a single, unified interface and rules engine. This unified engine is powered by Featurespace’s cutting-edge Artificial Intelligence.
Featurespace’s Adaptive Behavioral Analytics (ABA)
At the heart of One View lies the ARIC™ Risk Hub from Featurespace, a Visa solution. This system is not reliant on static, backward-looking rules. Instead, it leverages Adaptive Behavioral Analytics (ABA) and advanced machine learning to create a unique, continually evolving, real-time profile of each individual customer’s normal behavior.
The profound power of ABA is that it can identify an anomaly—a statistically significant deviation from a customer’s normal pattern—instantly. This is a crucial defense against the most modern and complex fraud attacks, such as Authorized Push Payment (APP) fraud and social engineering scams, where the activity might look legitimate according to traditional rules, but is wildly out of character for the specific customer.
Key Technological Advantages:
- Unified 360° Customer View: By aggregating card and non-card data into a single, cohesive feed, the Featurespace engine can build a far richer and more accurate behavioral profile. For instance, the system can now flag a suspicious chain of events such as a quick sequence of failed card PIN attempts immediately followed by a high-value P2P transfer, a pattern that would be completely missed by isolated monitoring systems.
- Real-Time, Predictive Processing: The solution delivers real-time risk-based scoring for every transaction—often in milliseconds. This speed is non-negotiable for modern payments, allowing FIs to intercede before a fraudulent transaction is authorized and funds are lost.
- API-First, Plug-and-Play Architecture: The solution is designed to be API-first and plug-and-play, meaning clients can go live quickly and see immediate value without extensive upfront training. It is flexible, able to be deployed as a complete replacement for a rigid legacy system or as an augmentation layer to existing infrastructure.
The Operational Dividend: Transforming Efficiency
The impact of One View extends far beyond simple fraud loss reduction; it fundamentally transforms the operational model for fintechs, digital banks, and payment processors. This platform is not just about protection; it’s about efficiency and customer experience.
- Streamlined Investigation and Reduced Workload
The core benefit for the team is the single, unified interface with consistent workflows and logic across all payment types. This eliminates the need for fraud analysts to constantly “toggle” between separate card and payments systems. This streamlining of investigations cuts resolution times dramatically and significantly reduces the daily operational and psychological strain on fraud teams. As Anthony Gudgeon, Thredd’s Head of Fraud Operations, has emphasized, the ability to spot unusual patterns that isolated systems would miss leads to better overall coverage with less strain on internal resources.
- Fewer False Positives and Enhanced CX
A major challenge for any fraud system is the delicate balance between security and customer experience. Overly cautious fraud systems lead to high rates of false positives—legitimate customer transactions being declined. This creates friction, generates costly customer support calls, and can cause a customer to switch providers. The Featurespace machine learning engine is specifically designed to minimize false positives by adapting to a customer’s evolving behavior, ensuring that genuine customers can transact without unnecessary interruption.
- Self-Resolving Alerts for Customer Autonomy
A standout operational feature is the capability for self-resolving alerts. When a suspicious yet uncertain pattern is detected, the platform can automatically send a real-time alert (e.g., via SMS) directly to the customer, allowing them to instantly approve or decline the transaction themselves. This feature immediately shifts the burden of resolution away from the fraud team, eliminating the need for 24/7 manual monitoring and significantly reducing the customer service workload. It’s a powerful two-way win: the customer retains control, and the financial institution saves substantial time and operational costs.
Conclusion: A Safer, More Efficient Path to Innovation
The collaboration between Thredd, a processor committed to empowering the next generation of digital issuers, and Featurespace, a pioneer in AI-native financial crime prevention and a key Visa solution, marks a definitive turning point for the payments industry. In an age where digital finance is the default and payment types are rapidly converging, the ability to monitor every customer interaction under a ‘One View’ model is no longer a luxury—it is the essential cost of entry for modern payments.
For the fintechs and financial institutions Thredd serves globally, this new solution offers a crucial competitive advantage. It allows them to aggressively scale their diverse product offerings with the confidence that their fraud defense is unified, intelligent, and operating in real-time. By moving away from reactive, siloed detection to a proactive, adaptive, and holistic approach, Thredd and Featurespace are providing the single source of truth that will enable the next generation of payments innovation to be both supremely secure and remarkably seamless. One View is not just fighting today’s fraud; it’s building a safer, more efficient foundation for the future of digital transactions.
