Growing Lumin signs on with behavioral biometric fraud preventer BioCatch

Banking fintech Lumin Digital is incorporating behavioral biometrics firm BioCatch‘s fraud-prevention software into its services platform. No value or terms for the deal have been released.

BioCatch uses machine learning to analyze physical and cognitive behavior biometrics online to suss out a bank’s legitimate customers and criminals. Mouse use, the way a user operates a screen and typing cadence are among the biometrics that can be watched for clues.

The company was selected this month by payments vendor Indue to protect financial institutions, retailers and non-profits in Australia and New Zealand from fraud attack and cybercrime with behavioral biometrics.

Lumin is owned by PSCU, the largest credit union service firm in the United States. Executives of the fintech say their network is entirely cloud-native without retrofits.

Banks signed on to Lumin’s services will now gain the ability to monitor for risk during every moment of a session.

And the company’s client list is growing. Earlier this month, it said UT Federal Credit Union to a multi-year service contract, without discussing details. Last month, it signed American Southwest Credit Union to a similarly unspecified deal.

Separately, BioCatch says it has a new service. Reports go to its customers regarding look-alike phishing sites. It is unknown if the service is free, embedded in the platform or ala carte.

Customers can choose between ‘Real-Time Alerts’ that carry a report on a danger found or a ‘Next-Day Report’ that collects all relevant information picked up in intelligence gathering every 24 hours. In both cases, victim reports would be sent, identifying organizations that have fallen prey.

Article Topics

behavioral biometrics  |  BioCatch  |  biometrics  |  continuous authentication  |  cybersecurity  |  financial services  |  fraud prevention