23 June 2017
Visit cib.db.com

Early Warning partners BioCatch to add behavioural analytics to digital authentication

15 April 2015  |  1590 views  |  0 Source: Early Warning

Early Warning, a trusted leader in fraud prevention and risk management, announced today a strategic alliance with BioCatch, a global leader in behavioral biometrics, authentication and malware detection.

Through this collaboration and Early Warning’s consortium model, financial services organizations (FSOs) can now gain and share behavioral intelligence to improve visibility of digital threats to reduce new account fraud and account takeover while simultaneously improving their users’ experience.

Early Warning’s new offering transparently maps criminal behavior in the digital ecosystem, distinguishing the human from the non-human. It is used for new account enrollment as well as existing account logins and sessions.

As a result of this alliance, the typical signs of fraud or specific behavioral signatures can now be shared across the entire consortium versus at a single FSO.

The solution reduces fraud by providing critical intelligence to participating FSOs based on shared user behavioral insights and data gathered from bank-contributed fraud records. It allows FSOs to more seamlessly authenticate trusted users, greatly reducing customer friction.

“Early Warning has taken yet another fundamental and unparalleled step in securing and optimizing digital financial transactions,” said Paul Finch, CEO of Early Warning. “Integrating BioCatch’s behavior analytics, plus our ability to authenticate consumers and their devices via the Mobile Network Operators, enables participating banks to provide a more seamless and secure digital experience for their customers as well as increase their own operational efficiencies.”

Ron Moritz, CEO of BioCatch, added, “BioCatch is proud to be working with Early Warning to address some of the biggest challenges currently facing the financial industry, namely preventing account takeover and new account fraud as well as malware attacks. And, we are providing users with a better experience while using digital banking. This new service will provide invaluable user behavioral data from top U.S. banks that will be collected and used to create a new generation risk-based authentication solution.”

Early Warning recently announced its acquisition of Authentify Inc., a worldwide leader in phone-based, multi-factor authentication solutions, and maintains its 2013 equity investment and exclusive agreement with Payfone. Paired with the behavioral analytic capabilities of BioCatch, the company is building a comprehensive platform of differentiated digital authentication solutions.

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit www.www.fisglobal.comvisit vasco.com/news/PSD2-compliant-solutionsdownload the report now

Top topics

Most viewed Most shared
Worldpay pilots app-only mPOS for small retailersWorldpay pilots app-only mPOS for small re...
8687 views comments | 17 tweets | 27 linkedin
Live: EBAday 2017, day twoLive: EBAday 2017, day two
8539 views comments | 4 tweets | 5 linkedin
Live: EBAday 2017, day oneLive: EBAday 2017, day one
7810 views comments | 3 tweets | 4 linkedin
UK banks will need to change one million sort codes under ring-fencing rulesUK banks will need to change one million s...
7665 views comments | 8 tweets | 25 linkedin
Open banking rules to trigger new wave of challengersOpen banking rules to trigger new wave of...
6363 views comments | 20 tweets | 23 linkedin

Featured job

Six Figure Base + Commission + Stock Options

Find your next job