August 23, 2023 · 4min read
Feedzai is a Leading Contender in Datos Insights Behavioral Biometrics Market Analysis
What an honor! Datos Insights recognizes Feedzai for our advancements in the field of behavioral biometrics and device fingerprinting. The Datos Insights Matrix Report positions Feedzai as a leading contender in fraud prevention for our Digital Trust solution.
Here’s how Feedzai stands apart in the behavioral biometrics and device fingerprinting market.
The State of the Behavioral Biometrics and Device Fingerprinting Market
The question of “Are you really you?” is becoming increasingly important as digital technology expands and identity and authentication determine successful customer relationships. Banks and financial institutions face a growing list of threats on many fronts. Almost all of these threats revolve around manipulating or manufacturing identities, including the rising challenge of synthetic identities.
Among the most severe financial crime trends currently facing banks and financial institutions, Datos’ report includes
Scams. Banks and financial institutions are facing a rising wave of scams. Shifting regulations on liability makes scam prevention a top concern for these organizations.
Sophisticated fraud attacks. Highly innovative fraudsters use new tools and technologies to sidestep banks’ legacy fraud prevention systems.
Digital identity shifts. Organizations face challenges confirming user identities when creating new accounts and existing customers logging into their accounts. This challenge requires a multi-prong approach.
What is Behavioral Biometrics?
Behavioral biometric solutions analyze an individual’s unique behavior and build an in-depth profile of who they really are. The solutions analyze how customers engage with their devices, keyboards, or touchscreens. Behavioral data such as typing rhythm, mouse movements, or touchscreen interactions identify unique individuals. With these data points collected, behavioral biometric solutions greatly enhance the accuracy of authentication processes.
What is Device Fingerprinting?
Device fingerprinting is a method of identifying and tracking devices based on their unique characteristics and attributes. Collected parameters include device type, IP address, operating system, web browser types and versions, browser settings, and hardware configurations. From there, the data creates a distinctive “fingerprint” for each device.
The Merging of Behavioral Biometrics and Device Fingerprinting Markets
This recognition comes at a critical time when the behavioral biometric and device fingerprinting markets are becoming increasingly intertwined.
“While device fingerprinting and behavioral biometrics technologies came to market at different times and as separate solutions, the industry is seeing a convergence. More vendors are combining these two technologies into a single, cohesive solution,” says David Mattei, Strategic Advisor at Datos Insights.
“This is an obvious evolution since both are strong passive authenticators. And from a single product requiring just one project implementation, users get a double benefit,” Mattei added.
A 3-in-1 Approach Sets Feedzai’s Digital Trust Apart
In Datos’ analysis, Feedzai’s Digital Trust solution ranks very well in behavioral biometrics and device fingerprinting. The report specifically noted our advancements in behavioral biometrics following our 2021 acquisition of behavioral biometrics provider Revelock.
Feedzai Scores High in Behavioral Biometrics
Feedzai’s Digital Trust Scores High in Behavioral Biometrics and Device Fingerprinting Account takeover (ATO) attacks remain one of the most […]
Datos notes that our standard Digital Trust solution is unique by converging behavioral biometrics, device fingerprinting, and malware detection into a single integrated solution. We chose a three-in-one approach from the start instead of beginning with one approach and gradually adding more services. Other vendors may offer these functionalities; however, they acquired or added them over time, not from their initial release.
Feedzai’s unique three-in-one solution offers banks a multi-prong approach to combat fraud and financial crime. It also caters to both banks and customers by design. Behavioral biometrics is ideal for addressing the needs of financial institutions. Meanwhile, the combination of device fingerprinting and malware detection benefits the customer.
The solution works silently in the background, stopping fraud without disrupting the customer journey. Combining these three capabilities helps banks prevent various financial crime threats. These include account takeover attacks, malicious remote access trojans, remote access tools (RATs), and scams. It can also address anti-money laundering (AML) use cases.
Key Features of Feedzai’s Digital Trust
Datos’ report highlights critical features distinguishing Feedzai’s Digital Trust in the market. This includes
- Continuous risk scoring. Ongoing protection covers the entire customer journey lifecycle, ensuring the safety of bank customers and organizations.
- Visual link analysis. Banks can use visual analysis tools to uncover fraudsters and connected entities. This provides a deeper understanding of complex fraud relationships.
- Policy manager. Access a rule writing and strategy management tool that leverages raw data elements and machine learning analysis.
- Integration with Transaction Fraud. Digital Trust connects with Feedzai’s Transaction Fraud solution to deliver pre-transaction analysis and risk signals. This allows more informed declining banks to look beyond simply the transaction when approving or declining a transaction.
What Feedzai’s Digital Trust Customers Are Saying
Datos’ recognition of Feedzai’s Digital Trust confirms Feedzai’s position as a behavioral biometrics leader. It is also the latest in a series of notable industry honors.
Customers were also very impressed with the speed of deployment of the solution. Stakeholders considered this a crucial benefit at the early stage of a relationship. Unsurprisingly, clients praised our customer support team for providing the top-notch care and service they expect.
Datos’ recognition further demonstrates Feedzai’s devotion to providing innovative, customer-centric fraud prevention solutions. We are fully committed to stopping fraud and financial crime while delivering customers a smooth digital banking journey. This latest recognition further demonstrates our commitment to protecting customers from fraud and scams.
All expertise and insights are from human Feedzaians, but we may leverage AI to enhance phrasing or efficiency. Welcome to the future.