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Continuous biometrics integrated by FacePhi and Revelock for bank fraud protection

 

digital identity KYC security

FacePhi and Revelock are bringing together their face and behavioral biometrics in a continuous biometric user verification partnership to protect financial institutions from online fraud.

The integration is intended to fraud-proof online banking from new account creation and login to logout, and all interactions in between, the companies say. Their technologies have individually processed more than a billion authentications, and currently protect 90 million banking customers from account takeovers, malware, mRAT, and phishing attacks.

Revelock was previously known as buguroo, and launched its biometric Fraud Detection & Response Platform in April.

“We are excited to partner with FacePhi to promote more cybersecure and customer-friendly banking practices,” says Pablo de la Riva, CEO and founder of Revelock. “Biometrics are the future of identity verification in digital banking and by coming together, we are blending best-of-breed solutions to reduce roadblocks in the user experience while at the same time reducing fraud prevention operation costs and fraud losses.”

Revelock notes awards during the past year including a European Technology Innovation Award from Frost & Sullivan, a Finovate Award for Best ID Management Solution and a Cybersecurity Excellence Award for Best Biometrics Solution.

FacePhi provides onboarding and authentication through face, iris, voice and fingerprint biometrics. The company has a global presence, with a strong position in Latin America and recent advances in Asia, and has been recognized as a 2020 SME of the Year in Spain.

“Revelock and FacePhi are two companies that share both their Spanish origin and have managed to create reference technologies for the international banking sector,” explains Javier Mira, CEO of FacePhi. “From a cybersecurity standpoint, we are two complementary companies, since we cover different stages in the interaction process between the customer and the bank, guaranteeing security both in the opening of an online account and in the subsequent digitally-performed operations. The possibility of joining forces to offer our services in a coordinated way has arisen naturally, as part of the moment of growth that the two firms are experiencing.”

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