“Nuance says the solution has already helped one major UK bank reduce account takeover by 59 percent within 30 days of its implementation…”
Nuance is integrating BioCatch‘s behavioral biometrics technology into its platform, the companies have announced.
The aim is to boost the fraud detection capability of the Nuance Security Suite, which is primarily based on voice recognition but also incorporates facial recognition. Nuance says the solution has already helped one major UK bank reduce account takeover by 59 percent within 30 days of its implementation, and has saved a US bank about $6.2 million in annual loss pertaining to fraud. Going forward, with BioCatch’s behavioral analytics technology tracking anomalous activity pertaining to things like how a user swipes or taps a device’s screen, Nuance Security Suite’s FraudMiner interface should prove even more effective at helping risk and fraud managers to identify and eliminate fraudulent online activity.
The integration comes amid increasing excitement about behavioral biometrics, with recent reports heralding its rise as an important means of authentication. It also tied with iris scanning for third place as most exciting modality in FindBiometrics’ Year in Review survey, highlighting its already strong presence in the industry.
The companies announced their partnership at this week’s RSA Conference in San Diego, which runs until February 17th.
(Originally posted on FindBiometrics)