VANCOUVER, British Columbia, March 17, 2016 /PRNewswire/ -- NuData Security today announced that it has won the Merchant Risk Council METAwards in the established category. The METAwards honor solution providers in both start-up (under three years) and established (over three years) categories whose creative innovations and advanced technologies have contributed to the commercial and operational success within the eCommerce payments and fraud community.
This recognition comes on the heels of several accolades awarded this month:
- 2016 Pay Awards: Judges' Choice Category
- 2016 Cyber Defense Magazine Infosec Awards: Most Innovative - User Behavior Analytics
- 2016 Info Security Product Guide's Global Excellence Awards: Gold award in Security Products and Solutions for Online and E-commerce
This powerful technology uses a combination of real-time predictive behavioral analytics, passive biometrics and a non-PII behavioral network effect across the entire customer base to identify "good" and "bad" online users. This behavior offers three key benefits:
- Positively identifying the user behind the device: Using a single consolidated platform instead of cobbling together multiple point solutions to validate user identity increases the likelihood of verifying legitimate known users to reduce step-up authentication costs and friction. Billions of dollars are lost to overzealous, inaccurate fraud detection solutions that create false positives.
- Devaluing the data: Behavioral biometrics monitors hundreds of behavioral usage signals such as how the device is held, typing speed, mouse movements, and typical website navigation patterns to create a unique, behavior-based user profile that is far more detailed and reliable than data points such as passwords and usernames. This data cannot be used if stolen, rendering it worthless to cybercriminals.
- Earlier, faster and more accurate detection: Combining real-time data from its NuDetect Behavioral Machine Learning Engine along with the Behavioral Intelligence Cloud Network, NuDetect identifies higher risk activities prior to site access and leveraging extensive behavioral network to stop automation, verify human identities, and identify risky behavior patterns. NuData Security stops fraud and malicious behavior earlier, faster and more accurately than any other solution in the world, while not interfering with good user interactions.
Michel Giasson, CEO, NuData Security, said:
"Our approach is based on the idea that true fraud detection and prevention is possible through putting the focus on the good trusted users. We build a multi-factor authentication system that can accurately predict the likelihood that the person on the other end of the device is the correct human that should have access to the account. This approach doesn't break the bank nor hamper the customer experience, but instead increases good customer experience, revenues and conversions. Combining biometric verification and behavioral analytics creates a uniquely effective and frictionless solution. We are pleased that the market is responding to it and industry leading award bodies are as well."
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 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.
SOURCE NuData Security