TEL AVIV, Israel, March 24, 2020 /PRNewswire/ -- SecuredTouch, the global provider of behavioral biometrics based advanced fraud detection solutions has been awarded Best Product at the 2020 LSA (Loyalty Security Association) Lion's Den.
As the concluding highlight of the Spring conference, Lion's Den is an audience favorite where companies get just 5 minutes to pitch a new product, service, idea - or even a concept - and convince the judges that their product is the silver bullet to make Loyalty Programs secure.
SecuredTouch presented it's product alongside Riskified, PerimeterX, and HooYu.
The Ringmaster was Chris Staab, CEO, Loyalty Security Association and The Lions were executive leaders from global companies:
- World of Hyatt
- International Airlines Group
- Wyndham Rewards
- Head for Points
Through an interactive role-playing narrative, Lewis Duker, Account Executive at SecuredTouch, assumed the role of a fraudster and took the audience on a journey as he took over Staab's - aka the good user's - loyalty account.
Afterwards, he revealed how behavioral biometrics solves pain points of loyalty fraud prevention teams. He demonstrated how this approach provides a complete overview of the customer journey to detect fraud before it happens.
Considering loyalty fraud exploits business models where a traditional payment gateway is not applicable, the audience was very engaged and interested. "It's not just about identifying fraudsters but identifying good users so you can take control, optimize experience, and provide a proactive approach before damage is done," Duker explained.
The judges were impressed with the flexibility of the SecuredTouch product, even in the most challenging scenarios where your "best customers look like your worst fraudster."
During the presentation of the Best Product award, the judges extended their praise, stating, "Your product stood out from the rest. We were impressed with the different behavioral elements for early detection during the fraud journey and how the product doesn't collect user data. It's a well-rounded tool that addresses all our needs."
SecuredTouch is the expert in behavioral biometrics-based fraud detection solutions for online retailers and financial institutions.
Patented technology addresses multiple fraud use cases in a single solution. It adapts to identify both manual and automated attack vectors ensuring early detection before a transaction can take place. By operating continuously and invisibly in the background, customers benefit from reduced fraud losses and a fast track to transaction completion for trusted users.
SecuredTouch award-winning solutions are used by clients around the world