LexisNexis Risk Solutions snaps up behavioral biometrics firm

LexisNexis Risk Solutions snaps up behavioral biometrics firm | Insurance Business America

LexisNexis Risk Solutions snaps up behavioral biometrics firm

LexisNexis Risk Solutions has announced that it has acquired behavioral biometrics technology firm BehavioSec.

Founded in Sweden in 2008, with a presence in the US, Canada, and EMEA, BehavioSec provides a behavioral biometrics product that uses behavior analysis for continuous authentication in order to help prevent fraud. BehavioSec services will become part of the Business Services group within LexisNexis RIsk Solutions and enhance its device and digital identity-focused offerings.

“BehavioSec represents a great addition to an already strong digital identity detection and authentication capability set for LexisNexis Risk Solutions,” said Julie Conroy, head of risk insights at Aite-Movarica Group. “Behavioral biometrics are an important channel of the digital channel control framework, helping with both detection and automation in a passive manner.”

Behavioral biometrics is becoming a widely used tool in industries including financial services, e-commerce, technology, insurance, healthcare and more to prevent new account-opening fraud, account takeover and other scams. Behavioral biometrics helps establish trust while identifying fraud, detecting bots or malware, typical fraudster use patterns and changes in legitimate individual use patterns.

BehavioSec has the ability to convert mobile signals from touchscreens and sensors into rules and mobile behavioral biometric-based authentication capabilities, complementing the browser-based abilities of LexisNexis’ ThreatMetrix product.

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“Behavioral biometrics is a valuable component in fraud prevention strategies that layer defenses to tighten the net that stops fraudsters,” said Rick Trainor, CEO of LexisNexis’ Business Services group. “Founded 14 years ago by a team of highly accomplished visionaries, BehavioSec is a forerunner in the behavioral biometrics segment and continues to evolve and innovate ahead of any other behavioral biometric solution available today. Our combined customer base will benefit significantly from a blended behavioral biometrics solution within ThreatMetrix that offers more defense for customers without adding friction across the customer journey.”

“I am looking forward to discovering the next phase in the evolution for behavioral biometrics alongside a successful, innovative company looking to further evolve our advanced capabilities,” said Dr. Neil Costigan, CEO of BehavioSec.