SAN FRANCISCO--(EON: Enhanced Online News)--RSA Conference – Nuance Communications, Inc. today announced from the RSA Conference that it has partnered with BioCatch, the global leader in behavioral biometrics to deliver continuous authentication on the web and mobile as part of the Nuance Security Suite solution. Through this partnership, Nuance is expanding its Security Suite to take fraud prevention beyond the contact center by combining digital inputs to more accurately detect fraud across multiple channels in the FraudMiner platform.
“We are pleased to partner with BioCatch to bring enhanced fraud detection strategies to our Security Suite through behavioral biometrics”
For more information about Nuance’s leadership in voice biometrics visit here.
With fraud at an unprecedented rate today traditional approaches to detecting and preventing fraud are no longer sufficient. Through the partnership, Nuance will incorporate BioCatch’s behavioral biometrics data within its voice biometrics and facial biometrics platform, adding a unique layer of protection that allows organizations to flag potentially fraudulent activity based on inconsistencies in the way a person interacts with a device or an application. By learning how a person typically uses their keyboard or mouse or, for example, how they swipe and tap on their mobile device screen, or toggle between fields, BioCatch builds a unique behavioral user profile, and can then flag any anomalies in a session, generating an alert that an unauthorized person may be accessing the device. Organizations that acquire Nuance Security Suite and the BioCatch solution will have this unified capability offered via the FraudMiner interface, giving fraud managers a holistic view of fraud across all customer channels.
Voice biometrics has already proven to be a strong weapon against fraud, with organizations around the world reporting compelling results:
- A top five UK bank saw a 59% decrease in account takeover within 30 days of deploying Nuance’s Security Suite including FraudMiner
- A top five US bank prevented $6.2M in annual fraud loss
- A top five US telecom saw a 20% decrease in fraud losses within 30 days of deploying voice biometrics
Integrating behavioural biometrics data strengthens Nuance’s fraud prevention capabilities further. For example, a typical modus operandi of a fraudster will involve different avenues within the bank to overcome their security layers. They may call the customer center to the change the phone number and address associated with the victim’s account, in order to be able to receive the SMS code that is required to log into the online banking account. Having synchronized monitoring of the user across both channels with one integrated risk score, will allow the bank to more effectively handle this type of sophisticated multi-channel attack, simplifying the case management at the call center level and saving money and time for both the consumer and the enterprise.
“We are pleased to partner with BioCatch to bring enhanced fraud detection strategies to our Security Suite through behavioral biometrics,” said Robert Weideman, general manager and Executive Vice President, Enterprise Division, Nuance. “While we have a long legacy of successful, innovative biometrics deployments for authentication and to combat fraud, this partnership allows us to expand our fraud prevention offerings beyond the contact center to digital channels, in alignment with our omni-channel vision.”
The other area where the BioCatch component compliments the existing Nuance offering is its ability to accurately detect fraud that comes from malware, account takeovers and social engineering, usually after the login, which is virtually impossible to catch using traditional fraud detection methods. This adds to the immediate return on investment by significantly lowering false alarm rates that burden call centers and other business operations.
“In today’s digital world, hackers have figured out how to bypass the initial authentication and piggyback on existing logins,” said Eyal Goldwerger, Chief Executive Officer of BioCatch. “One of the only ways to detect this is through continuous authentication and by extension, behavioral biometrics, because it works in the background, passively, without disrupting the user experience. By bringing together our behavioral biometrics and Nuance’s voice biometrics, we are able to solve this problem and secure transactions holistically across multiple channels. We are very pleased to be partnering with Nuance to provide a joint solution to the marketplace that addresses this rampant cyber threat, and to address the growing demand from the market today for a single suite to handle fraud prevention.”
Biometrics technology has been embraced worldwide to not only provide a more secure and seamless authentication experience, but also to reduce fraud with compelling results. Nuance’s Security Suite has been adopted globally by large organizations, such as the Australian Tax Office, Barclays, ING Netherlands, Tangerine Bank, Tatra Banka, Turkcell, Santander Mexico and Vodacom South Africa; BioCatch too, has been deployed by leading banks and e-commerce institutions around the world, including Natwest, which is part of the Royal Bank of Scotland Group.
Executives from Nuance and BioCatch will be available during the RSA Conference to speak with members of the media. To schedule a conversation during the conference, please contact Jessica Levy at 714-292-2990.
BioCatch is a cybersecurity company that delivers behavioral biometrics analyzing human-device interactions to protect users and data. Banks and other enterprises use BioCatch to significantly reduce online fraud and protect against a variety of cyber threats, without compromising the user experience. With an unparalleled patent portfolio and deployments at major banks around the world that cover tens of millions of users to date, BioCatch has established itself as the industry leader. For more information, please visit www.biocatch.com.
About Nuance Communications, Inc
Nuance Communications, Inc. (NASDAQ: NUAN) is a leading provider of voice and language solutions for businesses and consumers around the world. Its technologies, applications and services make the user experience more compelling by transforming the way people interact with devices and systems. Every day, millions of users and thousands of businesses experience Nuance’s proven applications. For more information, please visit www.nuance.com.
Trademark reference: Nuance and the Nuance logo are registered trademarks or trademarks of Nuance Communications, Inc. or its affiliates in the United States and/or other countries. All other trademarks referenced herein are the property of their respective owners.