July 21, 2016 -
NetGuardians specializes in user behavior analytics and profiling to implement controls for fraud and compliance issues, while BehavioSec’s behavioral biometric technology analyzes behaviors at the user transaction level and alerts the organization of any behavior changes that signal misuse.
Through their new joint offering, the companies will enable financial institutions to protect clients by statistically scoring the behaviors they use during transactions.
“This is superior transactional security to older methods such as passwords,” said Ingo Deutschmann, VP of engineering at BehavioSec. “A password can be hacked, but a swipe style cannot. At the same time, because it does not require users to take additional security steps, it offers the ease-of-use that consumers ask for. Users are protected in such a way that they don’t have to think about their security. Security is built into their own actions.”
Financial institutions can add this transaction-level protection to NetGuardians operational risk solutions, which use Big Data to correlate and analyze behaviors across the entire bank system to provide end-to-end risk mitigation and continuous control for fraud protection and regulatory compliance.
“Financial institutions today need fraud protection integrated into everything they do,” said NetGuardians COO Raffael Maio. “Bank clients think about fraud risk most at the time they conduct transactions. With BehavioSec, we help financial institutions provide strong security for transactions, contributing to overall security and client confidence.”
BehavioSec transforms behavior into an additional security layer by analyzing in real time the way users interact with their devices.
The technology recognizes if an unauthorized user is operating a device by monitoring the environment, rhythms, and interaction patterns that are unique to each user.
Previously reported, TeleSign partnered with BehavioSec to offer its behavioral biometrics solutions for multi-layered authentication and verification.