Sionic selects Revelock behavioral biometrics to help financial institutions tackle fraud
Revelock has entered a new partnership with financial services consultancy Sionic to deliver its behavioral biometric fraud prevention technology.
Under the partnership, Sionic will offer Revelock’s ‘Fraud Detection and Response (FDR) Platform’ as part of its anti-fraud solutions portfolio.
“We’re delighted to partner with Sionic to make our technology more easily accessible to its world-renowned clients,” commented Pablo de la Riva Ferrezuelo, CEO at Revelock. “Their expertise – so often gained through time on the frontlines facing the very attacks we are working to block – will be invaluable to us in our efforts to help financial services advance in the fight against online fraud.”
Revelock was originally founded as Buguroo in 2015, and rebranded in April.
The firm’s FDR platform uses advanced behavioral biometrics and hybrid AI (artificial intelligence) to create a BionicID, which is then used by customers as a digital fingerprint.
The BionicID consequently allows financial institutions to identify individuals at a granular level and to detect anomalies in their behavior that could be used by malicious actors to perform account takeover attempts.
“We are constantly reviewing the latest innovations in the fraud prevention space to ensure our clients are in the best possible position to tackle the rising tide of fraud,” explained Sionic Director Gareth Evans.
Revelock’s biometric solution also offers an ‘Active Defense’ mode designed to allow users to specify configurable automated responses to fraud.
“Revelock’s ability to detect and then preemptively block and respond to fraud attempts makes it a crucial addition to our fraud prevention portfolio,” Evans added.
“We’re excited about how this partnership will deliver key benefits to our clients, such as cutting losses incurred by fraud and reducing the workloads of their fraud teams,” he concluded.