Incognia has released a new behavioral biometrics tool that utilizes location data to secure mobile transactions. To that end, the Anti-Fraud Mobile SDK analyzes Bluetooth, Wi-FI, and GPS signals to pinpoint someone’s exact location, and then leverages a series of APIs to generate a location-based profile that adds an additional layer of passive security to each transaction.
The Incognia tool does not use any Personally Identifiable Information. Instead, the profile is based on a person’s movement patterns, which are in turn used to create a list of frequently visited trusted locations. If a mobile transaction is initiated within someone’s usual stomping grounds, the SDK can be reasonably confident that the transaction is legitimate. If the transaction comes from somewhere off the beaten path, the activity is considered suspicious and could point to the presence of a fraudster.
The Anti-Fraud SDK will assign a risk score for each transaction. The tool is geared towards financial institutions, as well as retail outlets that allow customers to make purchases through a mobile application. The solution will also match a user’s movement history to the address used to register a new account.
“With the Incognia SDK, our customers can reduce fraud through the use of location behavioral biometrics, provide a secure frictionless experience and protect their users’ privacy,” said Incognia Founder and CEO Andre Ferraz. “By using Incognia, companies will operate more securely at a lower risk while ensuring their customers are protected every step of the way.”
Incognia’s Anti-Fraud SDK can be deployed on iOS and Android devices. The data collected through the platform is encrypted and anonymized with hash technology.
Though both fall under the broader heading of behavioral biometrics, the Incognia solution differs from those of BioCatch and buguroo, which examine the way that someone interacts with their device. Since it relies on metrics like typing speed, BioCatch claims that its solution can secure a transaction regardless of device and location.
NuData has also advocated for behavioral biometrics as a way to combat fraud and improve the customer experience during the COVID-19 pandemic.
In other news, Incognia announced that Paula Skokowski will be taking over as the company’s new Chief Marketing Officer. Skokowski has more than 20 years of experience in a career that includes previous stops at Shape Security and Yubico.
June 2, 2020 – by Eric Weiss