LexisNexis Risk Solutions upgrades fraud and identity portfolio with behavioral biometrics
LexisNexis Risk Solutions has expanded its fraud and identity solutions portfolio by introducing behavioral biometrics as an extra layer of defense to help clients make more informed fraud and risk decisions, the company announced.
The new biometric capabilities are embedded in digital identity intelligence and authentication solution LexisNexis ThreatMetrix, which leverages data from billions of transactions, using machine learning and a decision platform. By adding a behavioral biometrics layer, the solution can analyze a user’s interaction with a device to identify an individual profile. Combined with digital identity intelligence, customers have better insight over new accounts opened, high-risk pages such as for personal information changes, and payments.
Behavioral biometrics can differentiate human from bot account activity, create reliable fraudster profiles, identify session anomalies, and build trust with returning customers, the company says. An advanced risk assessment method, behavioral biometrics analyze user activity patterns such as typing speed, phone tilt, mouse movements and keystroke behavior to build a unique profile.
The solution is built with “privacy by design,” as LexisNexis emphasizes the importance data protection and privacy hold in its strategy. It does not collect passwords or personally identifiable information.
“Differentiating between good and bad online behavior is harder than ever. Gathering device interaction data across multiple touchpoints in the online journey, however, helps build richer digital profiles,” said Kimberly Sutherland, vice president of fraud and identity strategy at LexisNexis Risk Solutions, in a prepared statement. “As fraudsters continually adapt their strategies to bypass controls, security solutions must be able to distinguish between trustworthy and malicious users in real time, without adding unnecessary friction for good customers.
“Cybersecurity needs a holistic approach,” continued Sutherland. “Unlike point solutions, which often resolve individual vulnerabilities, a layered defense can inform better risk decisions. Where the interplay between behavioral biometrics and digital identity is key, the integration of digital and identity assessment capabilities with behavioral biometrics allows customers to detect high-risk scenarios to allow our customers to better understand the legitimacy of the transacting user. Behavioral biometrics adds an extra passive layer of intelligence to existing fraud and identity solutions, creating a powerful addition in the fight against fraud and cybercrime.”
LexisNexis has a longstanding partnership with BioCatch to bring behavioral biometrics to its fraud prevention offerings.