Revelock partner brings behavioral biometric security to Middle East financial services
A new partnership will see cybersecurity consultancy Paramount offer the online Fraud Detection and Response (FDR) Platform from behavioral biometrics firm Revelock to financial institutions in the Middle East region.
The FDR Platform uses artificial intelligence and behavioral biometrics to develop an understand of every user “at a granular level”. It also spots unusual changes to a user’s device or network.
The software instantly blocks any impersonation or manipulation attacks such as remote access Trojans while aiming to maintain a frictionless user experience. Paramount will build Revelock’s platform into its suite of cybersecurity solutions allowing financial institutions to take an active defense approach to fraud attempts.
“We are always looking for the latest technology that will help banks get one step ahead of fraud – and stay there,” said Premchand Kurup, CEO of Paramount.
“Revelock’s accuracy in first detecting fraud attacks and then in pre-emptively responding to and blocking these attempts makes it a must-have addition for us. We’re delighted to team up and offer our clients the chance to leverage the cutting-edge technology already being used by banks internationally to cut fraud losses and reduce the cost and workload of internal fraud teams.”
Rebranded from Buguroo in the spring, Revelock was recently acquired by AI risk management platform Feedzai into what the latter states will become the world’s largest Financial Intelligence Network (FIN) for secure cashless transactions. It is now branded as “A feedzai Company”.