Experian has announced that it will utilize technology from BioCatch to identify online fraudsters. The announcement focuses on the ability to detect bots, but as Mercator identified in the report “Biometrics: A Market Forecast for Consumer Adoption” behavioral biometrics will be applied much more broadly over the next five years delivering persistent identity on mobile devices:
“Credit bureau Experian Plc has joined forces with technology firm BioCatch to use behavioral biometrics to help its clients spot fraudsters applying for credit cards and other lending products online, the companies said on Friday.
BioCatch’s software, which was integrated in Experian’s fraud prevention platform, analyzes the way users interact with devices and websites by tracking a wide range of factors including how fast they type or the way they move their mouse across a web page. The information collected can help BioCatch determine whether users who are who they say they are or impostors.
The companies said behavioral biometrics is especially useful in spotting when automated programs, or bots, are being used by fraudsters to apply for credit products online by using stolen identity information they acquire on the “dark net,” an area of the internet only accessible with special browsers that can ensure anonymity.”
Mercator expects behavioral biometrics will be used to provide the additional signals that merchants will need to collect and report to the networks with authorization messages if they wish to benefit from the liability shift associated with 3D Secure V2, .
Overview by Tim Sloane, VP, Payments Innovation Advisory Service at Mercator Advisory Group
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