Visa has agreed to buy AI-focused Featurespace, which develops enterprise technology preventing fraud and financial crime, for an undisclosed amount, it said on Thursday. Top tech companies are racing to build artificial intelligence into their products and services,

Visa has signed a definitive agreement to acquire British AI-powered financial fraud fighting outfit Featurespace for an undisclosed sum.

The acquisition of Featurespace will complement and strengthen Visa’s portfolio of fraud detection and risk-scoring solutions used by clients around the world to grow and protect their businesses.

(Reuters) - Visa has agreed to buy Featurespace, a developer of real-time artificial intelligence payments protection technology, the payments firm said on Thursday.

Visa Inc. will acquire real-time artificial intelligence payments protection firm Featurespace Ltd. — marking the credit-card giant’s latest move in bolstering its fraud and financial crime risk detection portfolio.

Visa Inc. (NYSE:V) shares are trading higher on Thursday. The company inked a deal to acquire Featurespace for an undisclosed amount. Featurespace is a developer of real-time AI payments protection technology that addresses fraud and financial crime risks.