buguroo behavioral biometrics innovation awarded, Suprema, BioConnect and Idemia honored by SIA
Frost & Sullivan has recognized buguroo for its behavioral biometrics-based bugFraud solution with a 2020 European Technology Innovation Award. The award follows in-depth analysis of the different European behavioral biometrics solutions for online fraud prevention available in the market.
The combination of deep learning and behavioral biometrics for the detection of known and unknown malware along with continuous monitoring to alert banks of anomalies in user behavior in unique, according to the company announcement. A unique CyberDNA profile is created for each user, and thousands of parameters collected from device sensors, with environmental and device data, allow bugFraud to comprehensively and intelligently identify fraudsters and protect legitimate users, the company says, ensuring data security and privacy.
Unlike some technologies, bugFraud compares users to their personal history, rather than to groups or ‘clusters’ of users, to generate risk scores in real-time.
“bugFraud is the most complete solution in the market, built with tools to identify the widest range of impersonations and manipulation attacks. But the key differentiator that clinched it for buguroo is Fraudster Hunter, a truly pioneering feature of the solution, which is specifically designed to identify the harmful actors and fraud groups that have broken into a bank’s security and exploited the system,” says Mohammed Riyaz Ahmed, an industry analyst with Frost & Sullivan. “With this unique capability, buguroo performs an in-depth threat analysis of each user’s behavior, including assessing the links between devices, networks, location data, and online banking activities and typical user behavior. By performing this link analysis, Fraudster Hunter enables the bank to identify the fraudsters in its system in real time.”
Ahmed also notes buguroo’s network of 11 global partners, including OEMs and resellers, and its generation of significant revenue in Latin America, where the company is close to 30 customers.
The top award went to Leica Geosystems, a part of Hexagon, for its new 3D surveillance product.
Suprema Inc. was awarded the Judges’ Choice Award for its Airfob Patch, while in the biometrics category, Idemia won for its VisionPass system and in emerging technologies, BioConnect’s Unified Mobile Access Solution was selected.