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ThreatMark anti-fraud behavioral biometrics integrated by digital bank

ThreatMark anti-fraud behavioral biometrics integrated by digital bank
 

Czechia-based behavioral biometrics provider ThreatMark has announced that its behavioral intelligence platform integrates with Q2’s Digital Banking Platform as a part of the Q2 Partner Accelerator Program. Q2 customers in finance will now be able to use ThreatMark to identify fraud and stop scams and social engineering attacks in online, mobile, and business banking.

ThreatMark’s platform consists of an AI-based behavioral profiling engine. The engine analyzes data from the user session, device type, and transactional details related to behavioral biometrics to create a trusted user profile that gets updated every time the user interacts with the banking app utilizing the engine. This allows for financial institutions to more quickly detect and prevent fraud.

The platform uses a three-layered approach. Layer 1 prevents fraud before it happens by detecting a variety of phishing, malware, bots, and hacking attempts, the company says. Layer 2 analyzes device interaction, date and time patterns, and behavioral biometrics as well as device identification to verify a user’s identity and maintain an up-to-date trusted user profile. Layer 3 analyzes transaction risk by identifying anomalies in payments and behavior, suspicious sequences and known fraudulent actions across all channels to stop fraudulent payments.

Customers can now use the platform to detect fraud quickly and get predictive insights to form more effective preventative strategies.

“This integration with the Q2 Digital Banking Platform underscores our dedication to ally with financial institutions and fintechs, ensuring that together we remain proactive, predictive, and preventative in every step against fraud,” says ThreatMark CEO Michal Tresner.

ThreatMark received a $5 million funding commitment from Orbit Capital at the end of 2023, raising a total of $13 million for the fiscal year to aid in the development of new behavioral biometrics and fraud prevention tools.

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