LexisNexis buys BehavioSec, adds behavioral biometrics to fraud detection portfolio
LexisNexis says BehavioSec’s mobile touchscreen behavioral biometrics will complement its ThreatMetrix products, which employ behavioral biometrics to detect abnormal browser activity. LexisNexis executives have said that their customers will also benefit from continuous authentication, advanced machine learning and additional behavioral data for enhanced authentication processes.
In January, LexisNexis released a study that found a surge in fraud in the United States and Canada as mobile devices continue to rise as a source of malicious bot transactions.
The acquisition will allow for larger organizations to defend against fraudulent transactions with access behavioral biometric products through ThreatMetrix. Smaller organizations will have standalone behavioral biometrics, LexisNexis said. Financial services, ecommerce, technology, insurance, health care, communications, mobile and media companies and government agencies are using behavioral biometrics for fraud detection and identity authentication.
Rick Trainor, CEO of business services at LexisNexis, said, “Founded 14 years ago by a team of highly accomplished visionaries, BehavioSec is a forerunner in the behavioral biometrics segment and continues to evolve and innovate ahead of any other behavioral biometric solution available today. Our combined customer base will benefit significantly from a blended behavioral biometrics solution within ThreatMetrix that offers more defense for customers without adding friction.”
BehavioSec CEO Dr. Neil Costigan comments that he is “looking forward to discovering the next phase in the evolution for behavioral biometrics alongside a successful, innovative company looking to further evolve our advanced capabilities.”
“BehavioSec represents a great addition to an already strong digital identity detection and authentication capability set for LexisNexis Risk Solutions,” states Julie Conroy, head of risk insights at Aite-Novarica Group, in the company announcement. “Behavioral biometrics are an important component of the digital channel control framework, helping with both detection and authentication in a passive manner.”