BehavioSec, a LexisNexis Risk Solutions Company

Fraud Solution Profile

A main commercial goal in this digital era has been to ensure secure, rapid access between financial institutions and their customers. Unfortunately, massive breaches of user credentials and personally identifiable information (PII) will continue to occur and add to the billions of stolen credentials and static personal information already available for sale on black markets.

The resulting challenge is that with all of this stolen data and attack automation, fraudsters are more armed than ever when attacking victims through account takeovers, social engineering, scams or by setting up new accounts with stolen personal data. This has turned fraud prevention into a high-stake guessing game, pitting fraud prevention and loss against false positives and customer retention. The net business results are:

• Lower customer loyalty
• High rates of costly manual fraud review
• Customer and institutional fraud losses

BehavioSec, the pioneer and technology leader in behavioral biometrics, offers a powerful fraud prevention solution for the digital era that helps organizations transparently validate people accessing and using online services.

In contrast to static information, one-time security, and other easily spoofed signals that require direct and frequent user response, BehavioSec technology performs background analysis and detects distinct patterns of how users type, swipe, and engage with their devices. It analyzes activity throughout user sessions to generate verification and risk signals consumed by fraud prevention platforms to improve the efficacy of transactional and legacy systems while detecting even the most sophisticated social engineering, scams, session hijacking, or account takeover attacks. It also empowers fraud analysts to stop fraud faster with more accurate decisions by cutting analyst time-to-decision and reducing manual reviews for both fraud and customer support teams. This technological innovation is also an approved multifactor authentication element (“something you are”) enabling frictionless compliance for regulations like the European Payment Services Directive 2 (PSD2) and Strong Customer Authentication (SCA).

In essence, BehavioSec helps organizations by:

• Protecting their bottom line with competitive, online customer experiences with a seamless layer of authentication, more approved transactions, and as a result, higher customer loyalty.
• Reducing the risk of fraud loss and fraud prevention costs with actionable data that combats fraud loss and false-positive fraud alerts alike.
• Supporting frictionless compliance, in full accordance with the strictest Strong Customer Authentication (SCA) and data protection regulations.

For financial institutions, BehavioSec is the first to apply behavioral biometrics to and across the entire customer lifecycle, detecting attacks with superior precision while supporting the authentication of both employees and customers. It ensures accurate, real-time decisions across new applications to payments to existing accounts – protecting consumers and institutions from fraud and scams while reducing unnecessary friction, supporting compliance, and giving fraud analysts powerful investigative capabilities and data insights.