NuData picks up Merchant Risk Council award for its innovative technology

March 20, 2016 - 

Identity verification and fraud detection firm NuData Security has been honored with its fourth industry award since January.

The most recent award, the 2016 Merchant Risk Council METAwards, acknowledges start-up and established solution providers whose creative innovations and advanced technologies have contributed to the commercial and operational success within the eCommerce payments and fraud community. NuData Security won in the established category at MRC Vegas 2016.

NuData reports being honored also at: the 2016 Pay Awards: Judges’ Choice Category; the 2016 Cyber Defense Magazine Infosec Awards: Most Innovative – User Behavior Analytics, and; the 2016 Info Security Products Guide Global Excellence Awards: Gold award in Security Products and Solutions for Online and E-commerce.

NuData Security technology uses real-time predictive behavioral analytics, passive biometrics and a non-PII behavioral network effect across the entire customer base to identify “good” and “bad” online users. This behavior offers three key benefits including: positively identifying the user behind the device; devaluing the data, and; earlier, faster and more accurate detection.

“Our approach is based on the idea that true fraud detection and prevention is possible through putting the focus on the good trusted users,” commented Michel Giasson, CEO of NuData Security. “We build a multi-factor authentication system that can accurately predict the likelihood that the person on the other end of the device is the correct human that should have access to the account.

This approach doesn’t break the bank nor hamper the customer experience, but instead increases good customer experience, revenues and conversions. Combining biometric verification and behavioral analytics creates a uniquely effective and frictionless solution. We are pleased that the market is responding to it and industry leading award bodies are as well.”

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About Stephen Mayhew

Stephen Mayhew is the publisher and co-founder of Biometrics Research Group, Inc.. His experience includes a mix of entrepreneurship, brand development and publishing. Stephen attended Carleton University and lives in Toronto, Canada. Connect with Stephen on LinkindIn.