BehavioSec, a fraud prevention solution provider specializing in account authentication, announced an expansion to its Behavioral Biometrics Platform in a statement posted to its corporate blog. The platform works by analyzing behavioral patterns to detect legitimate account holders. Merchants can use to defend against account takeovers, new account fraud, and checkout fraud.
In the statement, Jordan Blake, BehavioSec’s VP of Product, emphasized that the need to provide protection against increasingly complex fraud threats with increasingly sophisticated digital defenses.
“More organizations than ever are embracing digital transformation and quickly reaping its rewards to increase resource efficiencies, find new revenue verticals and cut costs,” he said. “But along with improved business agility and access comes the need for deep authentication. With BehavioSec’s Behavioral Biometrics Platform, organizations can continue to take advantage of the latest digital transformation innovations while evolving their security to meet them.”
The new features added include:
- Automated Clustering Engine: Determines when automation is being done by fraud actors and when it is being undertaken by legitimate automation scripts
- Improved Coaching & Voice-Phishing Detection: Detects social engineering efforts like voice related scams that are on the cutting edge of fraudster account takeover tactics
- Third-party Integrations: Integrations were added with ForgeRock and Ping Intelligent Identity, two companies that specializes in helping companies optimal customer experiences.
In the statement, Blake also highlighted the fact that the new additions will help merchants remain compliant with an ever increasingly list of regulatory requirements such as PSD2, as well as stay up-to-date with emerging consumer technologies for which increasingly and widespread adoption is anticipated in the very near future.
“These latest features combine with the BehavioSec Behavioral Biometrics Platform’s existing anti-fraud attributes built to meet the practical identity and security demands of an evolving digital framework driven by the increasing adoption of Web and mobile applications, 5G networks and mandates including the EU’s Payment Services Directive 2 (PSD2), GDPR, CCPA and others,” he said.
Sources:
https://www.behaviosec.com/press/behaviosec-accelerates-authentication-and-usability-performance/
https://www.merchantfraudjournal.com/visa-plaid-acquire/