Mercator Advisory Group has predicted that behavioral biometrics would change the landscape of strong customer authentication (Behavioral Biometrics Will Restructure the Authentication Landscape in the Next 5 Years) and this partnership between BioCatch and Entersekt further proves the point:
“The rewards of focusing so closely on the customer experience are many. To guarantee success, however, banks must deliver the same kinds of intuitive, low-friction – even fun – experiences that popular consumer apps do while bearing a heavier regulatory burden commensurate with their status as licensed, insured depositories and custodians of personal data. That’s a tall order without the right tools.
BioCatch and Entersekt have both built impressive patent portfolios by developing tools that help secure self-service channels while enhancing the customer experience. Their collaboration promises to generate innovative new use cases, such as passwordless login and enhanced remote user registration.
The Entersekt Secure Platform is built on patented strong authentication and security technology, enabling innovative, rich digital experiences and secure payments for financial insitutions and other enterprises. BioCatch, in turn, leverages AI to analyze how users engage with digital interfaces and devices, using up to 2,000 parameters to passively authenticate a user and validate user identity in online applications.
“BioCatch’s behavioral biometrics technology is an exciting alternative to the fingerprint and facial recognition solutions we already offer on our secure platform,” said Sherif Samy, SVP North America at Entersekt. “It will add value for our customers, especially in usability, by helping to determine when step-up authentication is really required and when we can safely leave the user to go about their business uninterrupted.”
If the BioCatch system detects an anomaly, it will send an alert to Entersekt’s security platform to perform an out-of-band, multi-factor authentication, which may also be mandated by law, as under PSD2 in Europe. Entersekt’s technology, which rests on a public-key infrastructure, can uniquely identify any consumer device through digital certificates, transforming it into a trusted factor of possession.”
The full press release is here.
Overview by Tim Sloane, VP, Payments Innovation at Mercator Advisory Group