Market Overview

BehavioSec Provides Unique Anti-fraud Safeguards That Deliver Continuous Authentication Utilizing Behavioral Biometrics

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Pioneering Behavioral Biometrics Platform delivers powerful
continuous authentication and anti-fraud capabilities with strong
privacy to help financial services, retail, cloud and other
organizations mitigate account fraud risk

BehavioSec,
the first vendor to pioneer behavioral biometrics, continues rapid
growth and momentum as more financial institutions, retailers, app
developers and cloud service providers turn to the company's flexible
software platform for safeguarding their customers and dramatically
slashing fraud costs. As businesses confront the growing threat of
account takeovers and unauthorized transactions, BehavioSec's innovative Behavioral
Biometrics Platform
enhances security by invisibly authenticating
individuals according to unique online behaviors nearly impossible to
impersonate with malicious code, like how a mobile device is held in the
hand, touchscreen inputs, cursor and mouse movements and physical time
and location data. Integrating with risk scoring systems, BehavioSec's
real-time analysis of these and other metrics power a new line of
defense blocking suspicious activities or triggering additional
monitoring - without impacting productivity and the user experience.

"The advent of behavioral biometrics turns the tables on cybercrime by
forcing fraudsters and malware to beat the one thing they cannot copy -
each person's innate habits and patterns of life," explained BehavioSec
CEO Neil Costigan. "Traditional authentication technologies and tokens
ultimately verify devices, not true end users. One-time biometric scans
of a fingerprint offer further protection, but are fundamentally not
designed to see and stop malicious actions that compromised machines
introduce after a ‘normal' login. Only by identifying and continuously
comparing users' unique behavioral attributes can organizations get a
proactive handle on throttling unchecked fraud risk."

BehavioSec's Behavioral Biometrics Platform eliminates implementation
and complexity hurdles by rapidly embedding into popular mobile
applications, Web storefronts and SaaS portals, so enterprises realize
immediate risk scoring and security advantages without offsetting coding
and integration challenges delaying return on investment (ROI). Key
advantages of the platform include:

  • Accuracy: BehavioSec's platform is proven to yield low false
    positives alerts and deliver detailed information for real-time fraud
    detection and forensic purposes.
  • Availability: BehavioSec's platform can be deployed on-premise
    or in the cloud by the enterprise, giving customers unmatched
    flexibility and control over end user privacy.
  • Continuous, seamless authentication: Efficiently combining
    identity and security functions, BehavioSec continuously studies
    behaviors to spot suspect activity, denying blind spots necessary for
    remote access Trojan (RATs) malware, bots, man-in-the-browser (MITB)
    attacks and other threats to compromise accounts or files.
  • Proven value: Customers quickly discover measurable cost
    savings from lower fraud incidences, coupled with fewer customer
    support calls and false positive issues associated with traditional
    authentication tools across billions of transactions and continuously
    verifying millions of users.

In addition to better risk scoring and cost savings, BehavioSec's growth
follows the boom in fintech and digital currency platforms looking to
add enhanced security as an amenity and the need for more businesses
around the world to comply with tougher payment regulations. BehavioSec
is already
validated
to deliver trusted authentication measures required under
the European Union's sweeping Payment
Services Directive 2 (PSD2)
mandate. The PSD2 stipulates that
payment service providers must ensure strong customer authentication
(SCA), which comprises at least two factors from two different
categories - "knowledge" (e.g. password), "possession" (e.g. smartphone)
and "inherence" (e.g. unique attributes of an individual's behavior).
BehavioSec's platform is an ideal path to PSD2 compliance because it
combines inherence with institutions' existing log-in credentials,
requiring no additional training, hardware or action from end users.

"Flexible platforms scale new technologies much more rapidly. With
BehavioSec's architecture we are able to help enterprises apply
behavioral biometrics to more use cases tackling persistent issues older
technologies could not easily address," added Jordan Blake, BehavioSec's
Vice President of Product Management, who recently joined the company
after previously holding strategic and early-stage product development
roles at Symantec and FireEye. "Credential compromise, for example, is a
massive problem for cloud providers' software-as-a-service margins, as
unauthorized logins lead to stolen resources and customer data. Much
more than a payment security measure, BehavioSec's platform can embed
strong defenses for any organization looking to move past fragile
passwords and restore control over visitors' identity, access and
privileges."

"Consider far-reaching ‘SIM swap' attacks, where a criminal moves a
victim's mobile phone number to a new SIM card and effectively hijacks
someone's digital life by redirecting every verifying text message,
two-factor authentication code and voice call to a new handset," Blake
continued. "In an attack like this leading to takeovers of financial,
social media, cloud and other accounts, even highly-touted two-factor
authentication falls short. It comes down to behavioral biometrics as
the last line of defense, preventing even someone cloning your phone
from doing severe damage. The attackers might have your calls and texts,
but he or she does not know your touchscreen pressure, typing habits or
how you balance your device. When we move to making innate behaviors the
foundation of security, we create new ‘human algorithms' that are many
times harder for opportunistic cybercriminals to crack."

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About BehavioSec:

BehavioSec is the first vendor to pioneer behavioral biometrics. The
company's Behavioral Biometrics Platform is widely deployed across
Global 2000 companies for its proven ability to dramatically reduce
account fraud and data theft. Founded in 2008 out of groundbreaking
academic research, BehavioSec technology allows companies, to
continuously verify digital identities with superior precision, in
real-time. Strengthened with the leadership of serial entrepreneurs and
experienced industry professionals, the BehavioSec team now spans the
world, providing security while preserving a rich digital experience
throughout web and mobile apps. BehavioSec is the only enterprise-grade
vendor used in global deployments with some of the largest companies,
reducing manual review whilst safeguarding millions of users and
billions of transactions. BehavioSec investors include Forgepoint
Capital, Cisco, ABN AMRO, Conor Ventures and Octopus Ventures.
BehavioSec is headquartered in San Francisco, CA and has global
operations throughout Europe and Asia Pac. For more information, visit www.behaviosec.com.

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