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NuData Security Partners with Arvato Financial Solutions on Behavioral Biometrics

This post has been superseded at finovate.com.

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Originally published at Finovate.com

At its FinDEVr Silicon Valley debut this fall, digital authentication specialist NuData demonstrated how its technology, NuDetect, enabled verification using a combination of behavioral biometrics identification and analytics, device location, and entity linking. “(NuDetect) continuously verifies a user’s online identity based upon analyzing the user’s natural interactions,” Robert Capps, VP of Business Development of NuData, explained from the FinDEVr stage. “These are behaviors that can’t be stolen, replayed, or reused – and so they aren’t subject to data breach.”

The technology enables FIs to both separate good users from bad with a high degree of accuracy, while providing “actionable intelligence on interaction risk,” Capps added. And once a company is able to tell good users from bad, he said, “all the other technological attacks that are available, such as identity theft, account takeover, new account fraud … become very easy to deal within this framework.”

It turns out this was precisely the kind of solution sought by Arvato Financial Solutions, which announced a partnership with NuData this week. With 7,000 employees working in 22 countries in Europe, Asia, and the Americas, Arvato Financial Solutions will leverage NuData’s technology to “stop fraud, prevent attacks, and continuously verify good users,” said Arvato Financial Solutions President of Risk Management, Frank Schlein. He praised NuData’s integration of authentication technologies such as passive biometrics and device fingerprinting, and the Canadian company’s “specific European market insight as well as local data protection known-how.” Arvato Financial Solutions is a part of the German multinational media giant, Bertelsmann SE & Co, as a subsidiary of Arvato.

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Pictured: Robert Capps, VP of Business Development of NuData, during his presentation, “NuDetect: It’s All About Trust” at FinDEVr Silicon Valley 2016.

NuData Security CEO Michel Giasson referred to Arvato as a “best-in-class partner” and highlighted the ability of technology like NuDetect to help companies defend themselves and their customers against cybercrime. “Fraudulent online behavior can send ripples through organizations, directly impact the bottom line and disgruntled customers could damage the brand image,” Giasson said.

Founded in 2008 and headquartered in Vancouver, British Columbia, Canada, NuData presented “It’s All About Trust,” a demonstration of the company’s behavioral biometric technology and a look at the science behind the solution, at FinDEVr Silicon Valley 2016. In October, NuData announced a strategic alliance with Early Warning to provide security for real-time, P2P money transfers, and in August, the company was noted for its fraud detection technology in Gartner’s Industry Analyst Reports. NuData, a 2016 MRC METAwards winner, reported this summer that it had more than doubled behavioral transaction volume to 38 billion in 2015 from 18 billion in 2014, adding it was on pace to process 80 billion in 2016.