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PR Newswire: NuData Security Calls on Industry to Adopt New Fraud Prevention Paradigm

March 1, 2016 — NuData Security Calls on Industry to Adopt New Fraud Prevention Paradigm

Four-pronged Approach Increases User ID Rate to +99 Percent and Removes Value From Stolen Data

SAN FRANCISCO, March 1, 2016 /PRNewswire/ — (RSAC Booth #3041) – True fraud costs business $9 billion every year, but a whopping $118 billion is lost to false positives, where good customers are pushed back due to overzealous and inaccurate fraud detection. At the RSA Conference 2016, NuData Security is calling for a fundamental shift in the way companies handle authentication by devaluing the data fraudsters have in abundance in favor of biometric and behavioral analytics.

Cheap and readily available PII for fraudsters renders traditional authentication technologies nearly useless because there just isn’t enough data available for a fraud department to be sure they are making the right call. A new security methodology, one that looks at who the user is behind the device, offers far greater accuracy. If you truly know who the user is, whether good or bad, you revolutionize how to prevent fraud without causing customer friction.

  • Multiple layers of intelligence: NuData Security has distinguished four essential layers to significantly increase fraud detection: device, connection and location identification; behavioral analytics; real-time entity linking; and behavioral biometric validation.
  • Positively identifying more users: Using more layers within a single platform to validate a user increases the likelihood of positive user identification, which reduces false negatives.
  • More confident identifications: As more layers overlap in the identification of a user, the confidence of the identification increases, which increases the true positives. Users of NuData Security’s NuDetect are able to identify more than 99 percent of users.
  • Devaluing the data: Behavioral biometrics monitor physical usage signals such as the angle at which the device is held, typing speed and typical website navigation patterns to create a unique, behavior-based user profile that is far more detailed and reliable than standards like passwords and usernames. This data cannot be used if stolen, rendering it worthless to cybercriminals.

 

Read the full release at PR Newswire here.