HID Global Teams with R&D Lab to Develop Anti-Fraud Solutions for Financial Services

HID Global has announced a new partnership aimed at developing anti-fraud technologies for the financial services sector.HID Global Teams with R&D Lab to Develop Anti-Fraud Solutions for Financial Services

Its new partner, ThreatMark, bills itself as an R&D lab specializing in malware detection, artificial intelligence, and behavioral biometrics. The firm is based in the Czech Republic and has a London office as well.

In a statement announcing their collaboration, the companies did not offer specifics as to the solutions they will develop, but suggested that their focus would be to develop capabilities that will enable financial institutions to better detect digital threats including “malware, application hacking, phishing, account takeover, identity theft and fraudulent transactions.” HID Global added that its Identity & Access Management technologies will “complement ThreatMark’s expertise in cyber-criminal detection and fraud prevention.”

“Working with ThreatMark not only provides a partnership with a very successful company with domain know-how, but it also gives us visibility into an even broader attack surface that needs to be addressed, ensuring that we are staying ahead of cyber threats today and in the future,” asserted HID Global VP Martin Ladstaetter.

The partnership’s announcement arrives amid booming enthusiasm for artificial intelligence technologies across a range of sectors, and the continuing ascent of behavioral biometrics as a powerful countermeasure against fraud in financial services.

January 12, 2018 – by Alex Perala