As a pioneer of behavioral biometrics, NuData Security has had a busy year. The idea of assessing patterns in user behavior to spot potential fraudsters and bots is one that has been gaining a lot of momentum, and a growing customer base has provided NuData with valuable data on fraud and digital threat trends, as well as a growing set of client success stories. Its rising prominence has also netted the company industry acclaim, and the attention of one of the biggest brands in financial services.
In his interview with FindBiometrics, NuData VP of Customer Success Ryan Wilk starts off by discussing Mastercard’s acquisition of the company last April, and proceeds to detail his view of the rise of behavioral biometrics – both over the course of 2017 and the ascent to come in 2018.
FindBiometrics: What are the biggest highlights for your organization from the past year?
Ryan Wilk, VP of Customer Success, NuData: In April 2017, we were acquired by Mastercard and became part of a global solution where digital security is paramount. A world where we can offer consumers unrivaled choice, control, and consistency as we advocate consumer-centric over device-centric solutions. Since the beginning of the year, we have doubled our transaction base from 97 billion per year to over 200 billion.
We have pioneered the space of passive biometrics in the industry and put it on center stage. Back in 2016, passive biometrics was considered, by some, a gimmick, and we have turned it into a thriving technology in 2017, and into what will be a major force in the industry in 2018. NuData Security is proud to be an innovator in the space of passive biometrics. We can humbly say that NuData has helped make passive biometrics the reliable technology that it is today.
FindBiometrics: What, in your opinion, was the defining trend for the biometrics industry as a whole in 2017?
NuData: Passive Biometrics. The industry is beginning to understand the idea of passive biometrics and the value it brings to the authentication process, and throughout the user’s online session.
Back in 2016, making the industry understand the significance of this technology was challenging, and now it is top of mind for many verticals such as FI and eCommerce.
FindBiometrics: What are the main challenges you want to see the biometrics industry address in 2018?
NuData: Physical biometrics will become the new two-factor authentication (2FA). Right now, physical biometrics are being used as a replacement for the username and password combination. As we continue to move to a more passive/password-less online experience, physical biometrics will be used as the step-up authentication of choice, when passive biometrics techniques can’t fully verify the user.
We would like to see this shift developed further to have a more reliable form of 2FA in 2018.
FindBiometrics: What excites you most about the year to come in biometrics?
NuData: The continued growth of passive biometrics into everyday items like smartphones and iPads is an opportunity to develop our technology further. What excites me the most is the ability of my device to know it is me without me saying it: This is a groundbreaking shift in the world of authentication.
Stay posted to FindBiometrics in the coming weeks to see more year-end reflections and predictions from the biggest names in biometrics.
The 15th Annual FindBiometrics Year in Review is brought to you by Leidos.