“HSBC will apply the ARIC platform to fight fraud specifically in the areas of insurance and retail…”
HSBC has become the latest financial services organization to adopt Featurespace‘s behavioral biometrics-driven anti-fraud technology.
Featurespace only just announced its Adaptive Behavioral Biometrics solution this past June. Part of the company’s ARIC anti-fraud platform, the technology is designed to look for patterns in user behavior and to spot anomalies that may indicate potential fraud. This, together with other factors such as assessments of geographical fraud hotspots, allows the ARIC platform to generate a risk score for online transactions.
HSBC will apply the ARIC platform to fight fraud specifically in the areas of insurance and retail, according to Featurespace’s announcement of the partnership. HSBC has been a notable proponent of sophisticated biometric security technologies in recent years, becoming one of the first major banks to embrace voice-based authentication for customers calling into its phone lines, and to use facial recognition for online authentication.
In embracing Featurespace’s ARIC solution, HSBC joins other financial services-focused organizations including ClearBank and Worldpay.
“These firms’ application of our technology will help them in optimising the detection of suspicious activity, ultimately protecting their customers from the global impact of financial crime,” commented Featurespace CEO Martina King in a statement announcing HSBC’s use of the ARIC platform.
September 4, 2019 – by Alex Perala
Behavioral biometrics are a relatively new modality in the biometrics landscape, with clear applications in enterprise security, online banking, and mobile commerce. Generally, a behavioral biometrics system matches a user’s behavior against a profile built from hundreds of physiological, cognitive, and contextual traits. The result is two-fold: a user can be passively and continuously authenticated simply by behaving normally online; and service providers implementing behavioral systems can detect malware and other cyber-threats designed to mimic human behavior. Learn more by visiting FindBiometrics’ Behavioral Biometrics page.