NuData Security Provides Early Warning System with Enhanced Biometric Behavior Analytics and Faster Implementation
Latest Enhancements to NuDetect Solution Help Financial Institutions, E-Commerce and Digital Goods Businesses Prevent Fraud With 97 Percent Accuracy
23 Apr, 2015, 07:47 ET
SAN FRANCISCO, April 23, 2015 /PRNewswire/ -- (RSA Booth #N4315) -- NuData Security today announced enhancements to NuDetect, the company's advanced online fraud detection engine. NuDetect's enhanced features put powerful anti-fraud tools, based on continuous behavioral analysis and compiled behavioral biometric data, into organizations' hands. This enables them to significantly reduce the likelihood of fraud while also preventing false positives. Additional information is available at: http://nudatasecurity.com/nudetect/
NuDetect's expanded array of behavioral biometric sensors is being reported at 97 percent accuracy in verifying a user's identity. The solution's improved user interface acts as an "early warning system" that makes high-risk events easily accessible to security teams. This enhancement has enabled detection as early as 15 days before a fraud attempt is made. Clients have reported strong correlation between NuDetect's high-risk login alerts and fraudulent purchases. In one case, high-risk login attempts enacted by an organized fraud ring resulted in fraud purchase attempts 15 days later. The early detection offered by NuDetect provided the client time to monitor, understand and prevent fraudulent transactions from taking place.
According to Gartner Research:
"'Bad guys' are evading most enterprise controls that rely on perimeter-focused security monitoring, identity access controls and various types of threat protection. Enterprise security teams are inundated with alerts, in some cases millions a day, which are not prioritized so that important ones indicating breaches are buried within the lot. Security managers should:
- Use UBA to detect automated user account takeover and user account creation attacks against enterprise assets, which are especially prevalent among large consumer brands and their Web-facing applications." (Source: Gartner, Best Practices and Success Stories for User Behavior Analytics, Avivah Litan, March 4, 2015)
Organizations that fall victim to fraud are at risk of hemorrhaging money, losing customers and suffering irreparable brand damage. Curtailing further damages, NuDetect provides an immediate solution through:
- Behavior-based fraud detection: NuDetect uses behavioral biometric to significantly improve on traditional device identity and deliver far more intelligence than traditionally available, without interrupting a user's experience.
- Real-time detection: NuDetect highlights fraudsters' intent before they have a chance to penetrate a website and do damage.
- Faster deployment: NuDetect allows for deployment within just a few days so that companies are equipped to defend against fraud as quickly as possible.
- Historical context awareness: NuDetect uses historical cross-session and cross-cloud behavior patterns and profiles stored in the NuData Intelligence cloud. This provides unrivaled accuracy and safety from day one.
- Invisible implementation: Enterprises are able to assess risk and present appropriate security countermeasures only to the most suspicious actors.
- Reducing cost and workload: With NuDetect, more back-end work is completed upfront, thus lowering organizations' costs and developer needs. Additionally, these organizations need to do less work to customize how data is sent, further improving deployment time.
Michel Giasson, CEO, NuData Security, said:
"As fraudsters become more sophisticated in their account hijacking and new account creation methods, organizations must implement strong fraud detection measures – and quickly. NuDetect's enhanced features put powerful anti-fraud tools, based on continuous behavioral analysis, into customers' hands. This enables them to significantly reduce the likelihood of fraud while also preventing false positives."
Christopher Bailey, CTO, NuData Security, said:
"By looking at the humanness and behavior of a user at the login, we have been predicting fraudulent purchase attempts before they occur. Our latest enhancements to NuDetect provide clients with a more comprehensive view in how fraud attacks work and the full fraud lifecycle, rather than focusing solely at the fraudulent purchase of goods – a single point in a grander scheme. With our latest enhancements, we are able to see unparalleled success through the prediction of fraud 15 days in advance with 97 percent accuracy."
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About NuData Security
NuData Security predicts and prevents online fraud, protecting businesses from brand damage and financial loss caused by fraudulent or malicious attacks. NuData Security analyzes and scores billions of users per year and services some of the largest ecommerce and Web properties around the globe. Additional information is available at: http://nudatasecurity.com/
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SOURCE NuData Security
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