VANCOUVER, British Columbia, May 10, 2016 /PRNewswire/ -- NuData Security today announced that its more than doubled behavioral transaction volume in the past year, following rapid adoption of its NuDetect solution. NuData Security harnesses the power of passive biometrics, device and behavioral analytics to enable customers to accurately verify good and bad users online.
- Doubling behavioral transactions: In 2014, NuData processed 18 billion transactions across the Web. Last year, the figure rose to 38 billion transactions. This year, NuData is on track to process 80 billion. NuData is leveraging this huge growth in behavioral transactions to increase the efficacy of its solution by identifying trends, including:
- High-risk log-ins are increasing, to the tune of more than 10 times the amount as last year
- Spoofing behavior has jumped more than 270 percent in the past month
- Account creation fraud has increased by 10 percent since last year
- Threat intelligence: Big data provides big opportunity for industries, banking in particular. With NuDetect, new accounts are compared to the billions of digital indicia in the NuDetect consortium, to help identify risky behavior previously seen in other customers' accounts – cross industry and cross vertical.
- Revenue growth: NuData increased its revenue at a double-digit rate as organizations seek a comprehensive authentication tool that doesn't introduce friction to the end customer.
- Industry recognition: The NuDetect solution recently has been lauded for its seamless, behind-the-scenes approach:
- 2016 Merchant Risk Council METAwards – established category
- 2016 Info Security Product Guide's Global Excellence Awards: Gold award in Security Products and Solutions for Online and E-commerce
- 2016 Pay Awards: Judges' Choice Category
- 2016 Cyber Defense Magazine Infosec Awards: Most Innovative - User Behavior Analytics
Michel Giasson, CEO, NuData Security, said:
"Greater security is a mandate today, but it must be done in such a way that the user experience doesn't suffer. Our solution enables frictionless, accurate user authentication, and the industry has responded with rapid adoption of our strategy and ongoing recognition for its innovative approach. We take inspiration from the classic Tim Horton's coffee order— double double—and are on track to double our revenue and our staff in the coming year."
About NuData Security
NuData Security positively verifies users online, using real-time behavioral analytics. By analyzing over 38 billion behaviors annually, NuData harnesses the power of behavioral and biometric analysis, enabling its clients to accurately identify the human behind the device. This allows clients to verify users before a critical decision point, stop automation, reduce customer insult, and investigate bad actors efficiently.
NuData Security's flagship product, NuDetect, is trusted by some of the largest e-commerce and banking companies in the world to protect them from threats like automated account creation, account takeover and transaction fraud. Additional information is available at: https://nudatasecurity.com/
Jessica M. Pasko
Nadel Phelan, Inc.
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SOURCE NuData Security