Behavior-based security for financial services

Typing biometrics provides online security to prevent fraudulent behavior and PSD2 or NYDFS compliant authentication.




Pains of financial services

New regulations and fraud activity are hard to manage



Regulations


The second version of the Payment Services Directive, known as PSD2, is likely to be enforced by mid-2019. Many businesses are already working on becoming compliant in order to avoid a last-minute rush.

The European Banking Authority (EBA) has been working on bringing PSD2 to life as a way to open up the competitiveness of banking and financial services, while simultaneously improving consumer protection and internet payment security.

The EBA and PSD2 will require at least two forms of strong customer authentication; behavioral biometrics makes this process more user-friendly.



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Fraud


The financial sector continues to experience big financial loss caused by identity theft thanks to increasingly aggressive credential criminals.

Keeping a balance of user platform usability and security to prevent breaches is challenging. A user wants the best experience in applications and attackers keep developing their tactics.





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Pains relief

One approach, pains solved



Regulations


The EBA’s PSD2 regulations make it necessary for every applicable company to offer a combination of at least two out of three authentication factors. The options are knowledge (e.g. password), inherence (e.g. behavioral biometrics) and possession (e.g. a token).


Typing biometrics, an inherence based authentication, is a prime option for companies that want to be compliant with PSD2 regulations without making the process of logging in more difficult for their users.


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Fraud


The TypingDNA solution provides an authentication risk-based score that helps financial services reduce fraud with no impact on user experience. Financial services applications can be able to recognize a user identity based on how they interact with its web portal.


How a person types their username and password, with their existing keyboards, reveals who they are. The verification is done without any friction and behind-the-scene with existing user-interface and user's device.





Try the simulated demo

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Our solution works on Desktop & Mobile



Resources



Choosing the right authenticator in the PSD2

Financial institutions need to comply with the latest regulations and take into account issues such as security, user experience or cost. This white paper proposes a framework for choosing an authenticator that suits the bespoke needs of each organization.

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Typing biometrics as a passive inherence-based SCA

Strong Customer Authentication is one of the main points to be addressed under PSD2. However, adding authentication factors most often comes at the expense of the user experience. Our solution provides a great alternative. Here is an overview.

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