BioCatch pitches combination of FIDO and behavioral biometrics
Integrating behavioral biometrics with FIDO-compliant authentication is the way to prevent fraud in a passwordless environment, according to a blog post by BioCatch which presents Samsung SDS’ Nexsign as a case study.
BioCatch notes that while 81 percent of hacking-related data breaches in 2017 involved stolen, weak, or guessable passwords according to Verizon’s Data Breach Investigation Report, 100 percent of fraud occurs in authenticated sessions. The means that while adopting FIDO standards is a positive step, one-time identity verification is not enough to enable a true passwordless future.
Samsung SDS America announced the addition of BioCatch behavioral biometric technology to its FIDO-certified Nexsign platform in October. At the time, BioCatch said it analyzed more than 500 behavioral parameters in the background of the session, and the company now says it is up to 2000 behavioral specifications. If potential fraud is detected, step-up authentication with fingerprint, facial, or voice recognition, or some combination of them is required.
BioCatch just closed a $30 million funding round, as the market for behavioral biometrics heats up. FIDO adoption has also continued, with financial institutions leading the way in Korea, and Daon and Digi-Sign recently implementing a mobile banking solution based on FIDO standards for a large Hong Kong bank.