NuData is taking the opportunity of this week’s RSA Conference to call for a paradigm shift in how companies think about fraud prevention.
It revolves around the kind of data used for authentication. Passwords and PINs, while of decreasing value as security tools, remain of high value to fraudsters given their utility in gaining access to secure data; meanwhile, biometric data, while offering greater security, is also of high value to those fraudsters able to spoof it. But the data connected to behavioral biometrics is nearly worthless to fraudsters as it doesn’t provide any actionable intelligence on how to access sensitive data.
This behavioral data is, of course, the basis of NuData’s NuDetect system, which looks at metrics like typing speed, the angle at which a smartphone is held, patterns emerging in website navigation, and so on to determine a unique behavioral profile of a user. It’s data that provides a useful tool for authentication in aggregate, but cannot be replicated.
Of course, such behavioral data alone isn’t currently being used as the sole basis for user authentication, but it does offer a strong extra layer of security, and NuDetect reportedly can use it quite effectively to flag potential fraud well in advance. Moreover, it can be leveraged to prevent false positives, which NuData says can lead to even more lost revenue than data theft itself.
“It’s a totally different way of thinking about fraud detection and protection, and one that’s highly necessary,” said NuData VP Ryan Wilk.
March 2, 2016 – by Alex Perala