As banks and credit unions move toward a more digital experience, it is increasingly critical to minimize risk by accurately identifying real end users from fraudulent ones. The Banno Digital Platform now features behavioral technology to identify high-risk users in real-time during login. This technology, powered by NuData Security, is available to any financial institution leveraging the Banno Digital Platform, regardless of other card brand affiliations.

By addressing account-specific threats without creating end user friction, financial institutions can provide a better experience while reducing operational costs. The technology blends enhanced device recognition technology with behavioral analytics, passive biometrics, and a cloud-based trust consortium. NuData Security analyzed 650 billion behavioral data points in 2019 alone, providing some of the world’s biggest brands with the intelligence to verify users before fraud occurs. It leverages machine learning to consistently update modules, signals, and rules with its billions of analyzed data points, blocking over 99% of automated credential-testing and account-takeover attempts. The results help prevent account takeover, credential stuffing, transaction fraud, application fraud, among other threats, and more importantly, increase valid users’ trust and confidence.

Greg Adelson, chief operating officer of Jack Henry, commented, “Cybercrime is more sophisticated than ever and the costs are mounting. With more people moving to digital as their primary point of contact, it’s essential that financial institutions serve them in a way that protects their identity, assets, and loyalty. We’ve found an approach to achieve that balance through behavioral intelligence powered by NuData. Ultimately, this is about responding to what matters most to banks and credit unions: protecting their customer and member relationships.”

Michelle Hafner, senior vice president of NuData Security, said, “As the industry continues to shift to digital and online services, and breaches and cybercrime continue to increase, the bad actors find opportunities to deploy sophisticated attacks that are difficult to detect. In 2019, NuData identified one in every three login attempts as high-risk, reinforcing the need for financial institutions to leverage state-of-the-art technologies that differentiate between valid users and bad actors. This is a great opportunity to help financial institutions protect customers using advanced technologies that don’t impact the user experience.”