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NuData Security Brings Behavioral Biometrics to Arvato Financial Solutions

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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 aren’t subject to data breach.”

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

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

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Robert Capps, VP of business development for 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. Giasson says fraudulent online behavior can send “ripples through organizations, [and it] directly impacts the bottom line, [as] disgruntled customers could damage the brand image,” Giasson said.

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. Nudata is headquartered in Vancouver, British Columbia, Canada, and was founded in 2008.