Visa has signed a definitive agreement to acquire UK-based fraud detection firm Featurespace for its portfolio of fraud detection and risk-scoring solutions.

The transaction remains subject to customary closing conditions and regulatory approval, and is expected to close in FY 2025.

News of the finalised agreement comes a month after Sky News reported that Visa and Featurespace were negotiating a potential £700 million deal, citing sources familiar with the deal.

Founded in 2008 Featurespace provides enterprise-level financial crime prevention solutions, specialising in anti-money laundering (AML) and fraud detection. The company’s ARIC Risk Hub platform uses real-time machine learning software to evaluate risk and combat fraud and financial crime across more than 180 countries.

Visa says the addition of Featurespace to its fraud detection portfolio will enable its clients to “manage fraud in real-time and further protect the payments ecosystem”.

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