Experian, BioCatch combat fraud using biometrics

Monday 10 April 2017 09:29 CET | News

Experian, a credit bureau, has teamed up with BioCatch to use behavioural biometrics to help its clients spot fraudsters.

BioCatch’s software, which was integrated in Experian’s fraud prevention platform, analyses the way users interact with devices and websites by tracking a wide range of factors including how fast they type or the way they move their mouse across a web page. The information collected can help the biometrics company determine whether users are who they say they are or impostors.

The companies said behavioural biometrics is especially useful in spotting when automated programs, or bots, are being used by fraudsters to apply for credit products online by using stolen identity information they acquire on the ‘dark net’.

Financial institutions are seeking to deploy more sophisticated methods to counter the rising threat of online fraud and cyber crime. According to analyst firm Javelin, roughly 6% of consumers in the United States were victims of identify fraud in 2016, an increase of more than 2 million victims from the previous year.

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Keywords: Experian, BioCatch, biometrics, fraud prevention, security, US, partnership, FICO, US
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Securing Transactions | Digital Identity, Security & Online Fraud
Countries: World
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