Plurilock behavioral biometrics picked for frictionless authentication with $42K financial services contract
Plurilock announced it has entered a contract to supply its behavioral biometrics to a major financial services client in America.
The $42,000 contract has been signed after what the company described as “an extensive series of proof-of-concept and testing deployments,” for a recurring 12-month deal.
Following the beginning of the partnership, the client will start utilizing a variety of Plurilock services, including the firm’s Plurilock ADAPT and Plurilock DEFEND. The financial services company had sought a frictionless authentication solution, and chose Plurilock’s technology for identity verification through hardware authenticators, OTP codes, or biometric scanners.
Plurilock’s solutions were installed onto the Company’s existing IAM (Identity and Access Management) and authentication stack. This will enable easier integration and an improved authentication workflow for users, and the client does not have to remove or modify existing systems.
From initial estimates conducted by the unnamed client, Plurilock’s behavioral biometrics-backed solution enabled a substantial reduction in overhead and key work stoppages caused by previously deployed authentication products.
“We are excited to be working with this client,” commented Plurilock CEO Ian L. Paterson. “They are a major player in their segment of the financial services industry and a very forward-thinking organization.”
According to Paterson, the fact such a prominent institution found the benefits and ROI of Plurilock solutions to be compelling validates the technology at the heart of the company’s core products.
Moving forward, the CEO said Plurilock will keep looking at expanding in the U.S. financial services sector.
“With more organizations in this sector exploring new and innovative methods to address their security infrastructure, we believe our authentication technology serves as an alternative to traditional solutions and an entry point into the U.S. market.”