April 24, 2015 -
NuData Security announced it has improved its advanced online fraud detection engine, NuDetect, by adding new anti-fraud tools, based on continuous behavioral analysis and compiled behavioral biometric data.
The new tools significantly reduce the likelihood of fraud for users while also preventing false positives.
Based on tests, NuDetect’s expanded array of behavioral biometric sensors achieve 97% accuracy in verifying a user’s identity.
The solution’s improved user interface serves as an ‘early warning system’ that makes high-risk events easily accessible to security teams, providing detection as early as 15 days before a fraud attempt is made.
Clients have reported strong correlation between NuDetect’s high-risk login alerts and fraudulent purchases, and in one case, high-risk login attempts conducted by an organized fraud ring resulted in fraud purchase attempts 15 days later.
NuDetect’s early detection system provided the client with sufficient time to monitor, understand and prevent fraudulent transactions from occurring.
NuDetect provides an immediate solution through behavioral biometrics-based fraud detection, real-time detection, faster deployment, historical context awareness using cross-session and cross-cloud behavior patterns and profiles stored in the cloud, invisible implementation, and reducing cost and workload.
Additionally, these organizations need to do less work to customize how data is sent, which significantly improves deployment time.
“As fraudsters become more sophisticated in their account hijacking and new account creation methods, organizations must implement strong fraud detection measures and quickly,” said Michel Giasson, CEO of NuData Security.
“NuDetect’s enhanced features put powerful anti-fraud tools, based on continuous behavioral analysis, into customers’ hands. This enables them to significantly reduce the likelihood of fraud while also preventing false positives.”