BehavioSec Provides Unique Anti-fraud Safeguards That Deliver Continuous Authentication Utilizing Behavioral Biometrics
SAN FRANCISCO--(BUSINESS WIRE)--Aug 28, 2018--BehavioSec, the first vendor to pioneer behavioral biometrics, continues rapid growth and momentum as more financial institutions, retailers, app developers and cloud service providers turn to the company’s flexible software platform for safeguarding their customers and dramatically slashing fraud costs. As businesses confront the growing threat of account takeovers and unauthorized transactions, BehavioSec’s innovative Behavioral Biometrics Platform enhances security by invisibly authenticating individuals according to unique online behaviors nearly impossible to impersonate with malicious code, like how a mobile device is held in the hand, touchscreen inputs, cursor and mouse movements and physical time and location data. Integrating with risk scoring systems, BehavioSec’s real-time analysis of these and other metrics power a new line of defense blocking suspicious activities or triggering additional monitoring - without impacting productivity and the user experience.
“The advent of behavioral biometrics turns the tables on cybercrime by forcing fraudsters and malware to beat the one thing they cannot copy - each person’s innate habits and patterns of life,” explained BehavioSec CEO Neil Costigan. “Traditional authentication technologies and tokens ultimately verify devices, not true end users. One-time biometric scans of a fingerprint offer further protection, but are fundamentally not designed to see and stop malicious actions that compromised machines introduce after a ‘normal’ login. Only by identifying and continuously comparing users’ unique behavioral attributes can organizations get a proactive handle on throttling unchecked fraud risk.”
BehavioSec’s Behavioral Biometrics Platform eliminates implementation and complexity hurdles by rapidly embedding into popular mobile applications, Web storefronts and SaaS portals, so enterprises realize immediate risk scoring and security advantages without offsetting coding and integration challenges delaying return on investment (ROI). Key advantages of the platform include:Accuracy: BehavioSec’s platform is proven to yield low false positives alerts and deliver detailed information for real-time fraud detection and forensic purposes. Availability: BehavioSec’s platform can be deployed on-premise or in the cloud by the enterprise, giving customers unmatched flexibility and control over end user privacy. Continuous, seamless authentication: Efficiently combining identity and security functions, BehavioSec continuously studies behaviors to spot suspect activity, denying blind spots necessary for remote access Trojan (RATs) malware, bots, man-in-the-browser (MITB) attacks and other threats to compromise accounts or files. Proven value: Customers quickly discover measurable cost savings from lower fraud incidences, coupled with fewer customer support calls and false positive issues associated with traditional authentication tools across billions of transactions and continuously verifying millions of users.
In addition to better risk scoring and cost savings, BehavioSec’s growth follows the boom in fintech and digital currency platforms looking to add enhanced security as an amenity and the need for more businesses around the world to comply with tougher payment regulations. BehavioSec is already validated to deliver trusted authentication measures required under the European Union’s sweeping mandate. The PSD2 stipulates that payment service providers must ensure strong customer authentication (SCA), which comprises at least two factors from two different categories - “knowledge” (e.g. password), “possession” (e.g. smartphone) and “inherence” (e.g. unique attributes of an individual’s behavior). BehavioSec’s platform is an ideal path to PSD2 compliance because it combines inherence with institutions’ existing log-in credentials, requiring no additional training, hardware or action from end users.
“Flexible platforms scale new technologies much more rapidly. With BehavioSec’s architecture we are able to help enterprises apply behavioral biometrics to more use cases tackling persistent issues older technologies could not easily address,” added Jordan Blake, BehavioSec’s Vice President of Product Management, who recently joined the company after previously holding strategic and early-stage product development roles at Symantec and FireEye. “Credential compromise, for example, is a massive problem for cloud providers’ software-as-a-service margins, as unauthorized logins lead to stolen resources and customer data. Much more than a payment security measure, BehavioSec’s platform can embed strong defenses for any organization looking to move past fragile passwords and restore control over visitors’ identity, access and privileges.”
“Consider far-reaching ‘SIM swap’ attacks, where a criminal moves a victim’s mobile phone number to a new SIM card and effectively hijacks someone’s digital life by redirecting every verifying text message, two-factor authentication code and voice call to a new handset,” Blake continued. “In an attack like this leading to takeovers of financial, social media, cloud and other accounts, even highly-touted two-factor authentication falls short. It comes down to behavioral biometrics as the last line of defense, preventing even someone cloning your phone from doing severe damage. The attackers might have your calls and texts, but he or she does not know your touchscreen pressure, typing habits or how you balance your device. When we move to making innate behaviors the foundation of security, we create new ‘human algorithms’ that are many times harder for opportunistic cybercriminals to crack.”
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BehavioSec is the first vendor to pioneer behavioral biometrics. The company’s Behavioral Biometrics Platform is widely deployed across Global 2000 companies for its proven ability to dramatically reduce account fraud and data theft. Founded in 2008 out of groundbreaking academic research, BehavioSec technology allows companies, to continuously verify digital identities with superior precision, in real-time. Strengthened with the leadership of serial entrepreneurs and experienced industry professionals, the BehavioSec team now spans the world, providing security while preserving a rich digital experience throughout web and mobile apps. BehavioSec is the only enterprise-grade vendor used in global deployments with some of the largest companies, reducing manual review whilst safeguarding millions of users and billions of transactions. BehavioSec investors include Forgepoint Capital, Cisco, ABN AMRO, Conor Ventures and Octopus Ventures. BehavioSec is headquartered in San Francisco, CA and has global operations throughout Europe and Asia Pac. For more information, visit www.behaviosec.com.
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Tom Resau, +1 833-248-6732
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PUB: 08/28/2018 09:00 AM/DISC: 08/28/2018 09:01 AM