D4t4 behavioral biometrics trigger automated fraud action with partnership extension
The partnership between D4t4 Solutions and Quantexa, which provides customer lifecycle management and AML services, is expanding with a new joint capability for fraud prevention through real-time biometric profiling.
Real-time fraud detection and prevention is performed through the Celebrus Fraud Data Platform’s behavioral biometrics and Quantexa’s Contextual Decision Intelligence Platform, according to the announcement. Celebrus FDP’s Sense and Trace feature, intended to enable organizations to track mule accounts to find other compromised digital identities, is also utilized in the joint solution.
“Typical anti-fraud solutions lack necessary data and take a retrospective view of fraud events, with analysis happening weeks after they occur,” comments D4t4 Solutions CEO Bill Bruno. “Companies need a more contextualized, real-time, and data-driven approach to fraud analytics and fraud prevention. With our new joint capability with Quantexa, customers gain best-in-class decisioning intelligence with highly-contextualized, first-party data to finally stop fraudsters in their tracks.”
Organizations can also use the combined product offering to prioritize high-risk individuals, businesses and channels, monitor transactions for anomalous activity in real-time, automate discounting of legitimate events and reduce false positives, and integrate it directly with existing fraud management systems for automated activation.
“Quantexa’s CDI platform combined with Celebrus’ real-time behavioral biometric capabilities offers a powerful solution, at scale, to some of our customers’ most pressing fraud challenges,” states Ivan Heard, global head of fraud solutions, Quantexa. “By partnering together, fraud teams leveraging Quantexa and Celebrus can easily detect and prevent many forms of fraud.”
Neuro-ID introduces behavioral analysis tools
Behavioral analytics provider Neuro-ID has launched two new digital identity fraud prevention tools for online businesses.
ID Crowd Alert aggregates behavior monitoring and provides alerts when evidence of fraud rings and bot attacks are detected. ID Orchestrator measures the familiarity of applicants with their own personally identifiable information as a way to pre-screen digital identity.
The tools are intended for use by digital identity platforms and enterprises requiring high levels of identity security, according to the announcement, such as know your customer (KYC) and anti-money laundering (AML) checks.
“Recent headlines underscore the tidal wave of identity fraud that impacts both large and small companies across the globe. Until now, limited visibility into crowd-level- and applicant-level -behavior has made it impossible to maintain a proper balance between fraud screening without detracting from an exceptional customer experience,” says Jack Alton, CEO at Neuro-ID. “Our two new products offer a one-two punch to address this imbalance.”
Alton also claims ID Crowd Alert is the first proactive monitoring and alerting solution of its kind.
“Together, the solutions help companies stem fraud-related losses while also safeguarding their most valuable asset: the customer onboarding funnel,” Alton adds.
Neuro-ID picked up $35 million in a Series B funding round in November to expand its real-time behavioral analysis.