A Global 2000 bank was evaluating new methods of authentication for their digital clients to protect accounts under constant attack by malware and fraudsters. In evaluating behavior biometric vendors, they selected BehavioSec, for its enterprise grade capabilities to be deployed on-premise and integrate with existing legacy risk management systems.
Digital banking platform supporting millions of digital identities and billions of transactions
THE CHALLENGE – BEFORE BEHAVIOSEC
Digital fraud attempts were on the considerable rise by malware, like remote access tools (RATs), and criminals obtaining stolen login credentials. Current authentication and anti-fraud risk engine tools didn’t provide enough visibility to lower costly outbound calls to verify digital identities. Additional methods, such as one-time tokens were issued to verify digital identity, but these new methods were having adverse impact on customer satisfaction as it introduced further friction to the digital experience. Additional tools for verifying digital identities were needed and an array of vendors delivering Behavioral Biometrics were evaluated.
THE SOLUTION – AFTER BEHAVIOSEC
BehavioSec’s Behavioral Biometrics as a Service (BBaaS) platform was selected to help detect fraudulent activity in real-time. The BBaaS platform outperformed all vendors in the market as it contained the enterprise grade features required to integrate into existing fraud response workfl ows. The BBaaS platform also supported mobile and web apps at scale to effectively and accurately support billions of transactions. The platform exceeded key security requirements for false positives, enabling the bank to reduce their outgoing verifi cation calls by more than 84%. The app dev team was able to easily integrate BehavioSec’s BBaaS continuous authentication capabilities into existing apps without negatively impacting app performance or the user experience.
The BehavioSec BBaaS platform has become an integral part of this bank’s security and anti-fraud tech stack to support digital banking at scale, drastically reducing both account takeovers and malware attacks. The additional user behavior telemetry harnessed with key apps has proven to be a highly effective way to deliver continuous authentication without impacting the digital user experience. Manual verifi cation by the bank’s call centers has been drastically reduced through the adoption of BehavioSec’s BBaaS platform and the resulting cost savings easily justifi ed partnering with BehavioSec.