B2B mobile financial services provider Mobetize is bringing behavioral biometrics to its smartLoan platform.
The platform is designed to help financial institutions launch loan products, and as such is one that could enhance its appeal by implementing more sophisticated digital security. To that end, Mobetize plans to use a machine-learning AI system that can analyze the behavioral patterns of users and determine whether they are genuine customers, bots, or would-be fraudsters.
In a statement announcing the move, Mobetize CEO Ajay Hans asserted that “Digital Identity Verification is integral to the future of FAAS”, or Fintech as a Service. Hans said the behavioral biometrics system will produce “a hard to replicate biometric signature” from analysis of its subjects.
The system arrives at a time of increasing excitement around behavioral biometrics. NuData, a company offering its own behavioral biometrics platform, reported considerable growth in its client base last year, and FindBiometrics’ recent Year in Review survey having found it to be the third most exciting biometric modality, tying with iris scanning after fingerprint and facial recognition.
January 12, 2017 – by Alex Perala