Although most financial fraud losses are usually attributed to payment-related transactions, identity fraud happens throughout the whole customer journey. Fraudsters have learned to exploit the volume and velocity of transactions converging across multiple touchpoints by targeting each individual touchpoint.
Recent data from the LexisNexis® Digital Identity Network®
reveals that 1 in 12 new account creations represent an attack. Mobile app logins have seen a 211% YoY growth in attack rates, and 1 in 20 password resets are attacks across all channels.
A static approach to detecting suspicious behaviour exposes organisations and consumers to elevated risk of fraud. An integrated strategy that can detect anomalies at early stages of the customer journey can prevent future financial and reputational damage.
Behavioural biometrics discretely collects behavioural data whenever a user engages with your app, service or website. The software analyses each session for environmental risk factors, using a rich set of intelligent signals that yield a near real-time authenticity score.