24 January 2017
visit http://www.wolterskluwerfs.com

Big Blue is watching you: IBM patents new fraud fighting app

04 June 2014  |  11339 views  |  2 Mouse

IBM has patented an innovative fraud prevention technique that analyses the way users interact with websites to spot anomalous behaviour.

When individuals access a banking or shopping site, they subconsciously establish characteristics of how they interact with the site, says IBM. These might include clicking certain areas more often than others; using the up and down arrow keys on the keyboard to navigate; relying solely on the mouse; or tapping or swiping the screen of a tablet or smartphone in a distinct manner.

IBM says its patented software will help businesses to analyse and identify sudden changes in online behaviour, triggering a secondary authentication measure, such as a security question.

Keith Walker, IBM master inventor and co-inventor on the patent, says: "If an individual suddenly changes how they interact with an online bank or store, such as due to a broken hand or using a tablet instead of a desktop computer, I want these web sites to detect the change, and then ask for extra identity confirmation before accepting a transaction. Our experience developing and testing a prototype, which flawlessly confirmed identities, shows that such a change would more likely be due to fraud, and we all want these sites to provide more protection while simultaneously processing our transactions quickly."

In March, IBM announced new software and services to help organisations use Big Data and Analytics to address the $3.5 trillion lost each year to fraud and financial crimes.

Comments: (2)

Tim Brew
Tim Brew - YourCMO - London | 05 June, 2014, 09:26

Given the huge rise in the number of stories about the hacking of personal details and log in credentials, this looks like an innovative approach to automatically determining when an account is being used by someone other than the owner.  Big question, willl it gain any traction in the market or just be another great idea which is too complex and expensive ot roll out?

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
A Finextra member
A Finextra member | 05 June, 2014, 13:05

...and NSA and God knows who else has the database with all user credentials immediately. I wonder whether security guys in the banks will allow to deploy "something in the middle" in to their internet or mobile apps. I bet a box of Budweiser(the Czech one) that no, they wil not.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

DBS to deploy IBM Watson to crunch big data

DBS to deploy IBM Watson to crunch big data

09 January 2014  |  7358 views  |  0 comments | 7 tweets | 8 linkedin
IBM develops two-factor security for mobile devices

IBM develops two-factor security for mobile devices

21 October 2013  |  8419 views  |  0 comments | 11 tweets | 13 linkedin
IBM helps IndusInd Bank track customer location and activity for promotions push

IBM helps IndusInd Bank track customer location and activity for promotions push

06 September 2013  |  6346 views  |  0 comments | 6 tweets | 8 linkedin
IBM agrees Trusteer acquisition

IBM agrees Trusteer acquisition

15 August 2013  |  4988 views  |  0 comments | 1 tweets | 4 linkedin
UniCredit and IBM create cloud-based joint venture

UniCredit and IBM create cloud-based joint venture

22 July 2013  |  8714 views  |  0 comments | 4 tweets | 2 linkedin
ANZ and Royal Bank of Canada to engage with IBM's Watson

ANZ and Royal Bank of Canada to engage with IBM's Watson

22 May 2013  |  9999 views  |  0 comments | 15 tweets | 9 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comVisit contisgroup.comvisit wavestone.co.uk

Top topics

Most viewed Most shared
US fintech firms join forces to push data sharing via APIsUS fintech firms join forces to push data...
10325 views comments | 60 tweets | 53 linkedin
HSBC forms tech advisory boardHSBC forms tech advisory board
7031 views comments | 22 tweets | 23 linkedin
New York regulator blasts OCC over bank charter plan for fintech firmsNew York regulator blasts OCC over bank ch...
6199 views comments | 21 tweets | 15 linkedin
hands typing furiouslyBlockchain: Securities market infrastructu...
6195 views 0 | 3 tweets | 3 linkedin
China's Ant Financial goes global in bid for two billion users in 10 yearsChina's Ant Financial goes global in bid f...
5680 views comments | 22 tweets | 12 linkedin

Featured job

Competitive base, double ote
Germany or other C.E.E location

Find your next job