Nationwide Building Society has won the Retail Banking Security Innovation of the Year award for a mobile solution developed with Unisys and BehavioSec. The award was bestowed at this year’s Retail Banking Conference & Awards.
The recognition is for an app developed by the companies this year which uses behavioral biometrics to authenticate users. That means analyzing metrics like how a user holds her smartphone, types on it, and interacts with the touchscreen, and matching patterns from that behavior against the user’s profile. While it’s not meant to act as the sole authentication mechanism, it can add a significant extra layer of security, and can help make the mobile authentication experience less cumbersome for users by reducing the need for more elaborate security mechanisms.
The award may signal growing market enthusiasm for the emerging field of behavioral biometrics, which offers the advantage of passive authentication and may be particularly compelling to organizations dealing in online transactions with customers. Other solutions, such as NuData’s NuDetect platform, have also seen rising interest, with NuDetect taking aim more at the retail sector than financial services; and the field is young enough that there’s plenty of room for growth as more businesses take interest.
May 25, 2016 – by Alex Perala