FICO has launched two new biometric identity verification products in an effort to offer better digital security to its customers. FICO Identity Proofing is a digital onboarding solution that uses document and facial recognition to compare a user’s selfie to the photo on their official ID, while FICO Authentication Suite is a behavioral biometrics platform that uses metrics like keystroke patterns and device telemetry to distinguish fraudsters from legitimate users.
Both solutions were realized through FICO’s acquisition of EZMCOM, which previously partnered with Sensory and already safeguards more than 60 million users. FICO Identity Proofing and the FICO Authentication Suite are compliant with the latest Know-Your-Customer and PSD2 requirements for strong customer authentication.
“As our clients expand their digital offerings, they are requesting more sophisticated identity proofing and authentication capabilities to complement our fraud, compliance, and customer engagement applications,” said FICO CTO Claus Moldt. “Behavioral and biometric authentication are becoming the gold standard to prevent identity spoofing and improve customer protection, while reducing friction.”
FICO’s new products will cover all of an organization’s digital channels, providing secure biometric onboarding and authentication for servers, workstations, and mobile devices. The offerings arrive shortly after the debut of FICO’s Falcon X anti-fraud platform, which debuted at Finovate in September.
For FICO, the Authentication Suite and Identity Proofing platforms also represent an evolving approach to digital security. Though the company is best known for its analytics software, a prior FICO survey revealed that customers are increasingly worried about the rising threat of identity theft and fraud. At this stage, any comprehensive anti-fraud solution needs to incorporate secure onboarding and biometric authentication, with companies like BioCatch noting that behavioral biometrics can be a particularly powerful tool in that regard.
The latest FICO products would seem to be an attempt to solve that problem and provide better security to the company’s clientele.