The use of Artificial Intelligence (AI) has grown tremendously over the last couple years as financial institutions (FIs) further embrace digital operations and look to unlock new revenue growth opportunities, minimize operating expenses, automate manually intensive processes, and better secure their organization and customers.
AIFinTech100 recently released a list of companies that are paving the way when it comes to solving challenges and improving efficiency in financial services, naming BehavioSec as a technology that “financial institutions need to know about.”
Making the final list, BehavioSec was recognized for its innovative use of technology to solve a significant industry problem: the need to make authentication seamless and secure.
BehavioSec uses behavioral biometrics to turn authentication into an invisible, continuous process while maintaining security, privacy and compliance. Our platform does this by silently analyzing patterns in physical behaviors like typing, swiping and mouse movement to verify and protect people online.
We have seen new regulations shifting liability from the consumer to the FI, along with new guidelines to support secure banking, user authentication and fraud prevention. Now is the time for these institutions to adopt new technologies, such as behavioral biometrics, that will boost fraud detection and safeguard authentication.
Here at BehavioSec we are shaping industry standards and norms, improving fraud prevention success and the way we all live and engage online. For FIs, the BehavioSec solution is the first to connect behavioral-based user verification to and across the entire customer lifecycle, detecting attacks with superior precision while remaining invisible or transparent to employees and customers. It ensures accurate, real-time decisions across new applications to payments to existing accounts – protecting consumers and institutions from fraud while reducing unnecessary friction, supporting compliance, and giving fraud analysts powerful investigative capabilities and data insights.
The AIFinTech100 recognizes this along with the benefits and security BehavioSec provides. The list was produced to identify the 100 most innovative companies developing AI applications in financial services to help senior management and technology executives evaluate which applications have market potential and a lasting impact on the industry. The standout companies were chosen by a panel of industry experts and analysts who reviewed a study of over 1,000 FinTech companies undertaken by FinTech Global, a data and research firm.
The full list of the AIFinTech100 can be found at www.AIFinTech100.com, and a summary of each organization is available here.
If you are interested in learning more about BehavioSec behavioral biometrics technology and the problems that it is solving in order to help secure the financial industry, contact us or visit our product page.