LAS VEGAS, Oct. 28, 2015 /PRNewswire/ -- (Money 20/20 Booth #1841) – At Money 20/20 in Las Vegas, NuData Security will showcase the latest in online user behavioral biometrics and unveil a new dashboard control center. Using a combination of biometric and behavioral patterns, the company's NuDetect solution allows customers to go beyond just finding fraud to also rewarding and protecting the good users. With NuDetect, customers can truly understand every user, both the good and the bad.
- Billions stolen by fraud: The true cost of fraud is lost conversions. True fraud cost U.S. businesses $9 billion in 2014 but overzealous traditional fraud prevention methods knock back legitimate transactions, costing retailers $118 billion in lost revenue last year, according to the report "Future-Proofing Card Authorization" from Javelin Strategy & Research. NuData Security's customers are seeing a significant reduction in false positives.
Analyzing behavior and authenticating good users to detect fraud and improve customer experience: NuDetect's layered approached – using device and connection, measuring behavior over time, comparing behavior across networks and analyzing behavior biometrics – goes beyond standard fraud detection checks to truly understand the user behind the device. By deploying a continuous evaluation of the user, NuDetect empowers customers to:
- Identify high risk and anomalous activity earlier than ever before
- Redirect suspicious users into a different web experience
- Decide how to respond in real time with all the necessary context and data to make a better decision.
Improving customer experience saves billions: NuDetect is unmatched when it comes to revealing fraud but that powerful tool also can be used to provide an unsurpassed user experience. NuDetect predicts fraudulent transactions by identifying good users from bad, based on their online behavior. By tracking over 20 billion behaviors annually, NuData Security harnesses the power of behavioral and biometric analysis, enabling its clients to predict fraud with 99 percent accuracy. With a proven false positive rate of less than 1 percent, NuDetect can put billions back into merchants' pockets, while decreasing customer abandonment and attrition.
New and improved dashboard: NuData Security will be showcasing the new dashboard that gives customers deeper intelligence on the user behind web, mobile and other transactions. This one-stop-shop for analysis provides a true understanding of the user, their biometric match and the intricate correlations of that user across NuData's network of billions of behavioral profiles.
Ryan Wilk, director, customer success, NuData Security, said:
"Online fraud is a multi-billion-dollar problem, and cyber criminals keep getting better at gaming the system. In order to defeat them, continuous behavioral analysis that penetrates down to the layer of subconscious behavior is necessary. Working below the radar, our system tracks these behaviors to predict and prevent fraud. It's a non-intrusive process that saves organizations and individuals money and protects brand reputation as well."
About NuData Security
NuData Security predicts and prevents fraudulent transactions by identifying good users from bad, based on their online behavior. By analyzing over 20 billion behaviors annually, NuData harnesses the power of behavioral and biometric analysis, enabling its clients to predict fraud with 99 percent accuracy. This allows clients to predict fraud before a critical decision, reduce customer insult, and investigate bad actors efficiently.
NuData's 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: http://nudatasecurity.com/
Jessica M. Pasko
Nadel Phelan, Inc.
SOURCE NuData Security