LexisNexis Risk Solutions Acquires Behavioral Biometric Innovator BehavioSec
LexisNexis® Risk Solutions, part of RELX, has announced the acquisition of BehavioSec®, an advanced behavioral biometrics technology provider. Founded in Sweden in 2008 with a presence in the U.S., Canada and EMEA, BehavioSec provides a highly predictive behavioral biometrics solution that uses behavior analysis for continuous authentication to establish identity trust and help prevent fraud. Solutions from BehavioSec will become a part of the Business Services group within LexisNexis Risk Solutions and enhance its device and digital identity-focused offerings, such as LexisNexis® ThreatMetrix®.
“BehavioSec represents a great addition to an already strong digital identity detection and authentication capability set for LexisNexis Risk Solutions,” says Julie Conroy, head of risk insights at Aite-Novarica Group. “Behavioral biometrics are an important component of the digital channel control framework, helping with both detection and authentication in a passive manner.”
Behavioral biometrics is becoming a widely adopted tool by industries such as financial services, ecommerce, technology, insurance, health care, communications, mobile and media companies and government agencies to prevent new account opening fraud, account takeover and scams, amongst other use cases. These organizations seek a passive means to establish trust while identifying fraud and detecting bots or malware, typical fraudster use patterns and changes in legitimate individual usage patterns to stop fraud before it enters their environments. They want to achieve this simultaneously while ensuring a positive experience at every consumer touchpoint.
BehavioSec brings the ability to convert complex mobile signals from touchscreen and sensors into rules and advanced mobile behavioral biometric-based authentication capabilities, complementing the browser-based solutions within ThreatMetrix®. By integrating offerings from BehavioSec into ThreatMetrix, customers will also benefit from continuous authentication, advanced machine learning capabilities and additional behavioral data for enhanced authentication processes.
Rick Trainor, Business Services CEO, said, “Behavioral biometrics is a valuable component in fraud prevention strategies that layer defenses to tighten the net that stops fraudsters. Founded 14 years ago by a team of highly accomplished visionaries, BehavioSec is a forerunner in the behavioral biometrics segment and continues to evolve and innovate ahead of any other behavioral biometric solution available today. Our combined customer base will benefit significantly from a blended behavioral biometrics solution within ThreatMetrix that offers more defense for customers without adding friction across the consumer journey.”
Dr. Neil Costigan, CEO of BehavioSec, added, “I am looking forward to discovering the next phase in the evolution for behavioral biometrics alongside a successful, innovative company looking to further evolve our advanced capabilities.”
The new fraud prevention tool will allow access to behavioral biometric solutions by larger organizations when combined with ThreatMetrix®, while serving small to mid-sized organizations seeking a stand-alone behavioral biometrics offering.
DBO Partners served as the exclusive financial advisor to BehavioSec.
BehavioSec is an industry pioneer and advanced technology provider of behavioral biometrics and continuous authentication, safeguarding millions of users and billions of transactions today. Deployed across Fortune 500 companies to dramatically reduce fraud, friction, threat and theft, BehavioSec verifies and protects human digital identities by understanding how we uniquely type and swipe across our ever-changing devices. Whether used in the cloud or on-premises, BehavioSec delivers the superior user experience, precision and scale needed by organizations to keep customers engaged while catching evasive, real-time attacks other solutions miss.
About LexisNexis Risk Solutions
LexisNexis® Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. For more information, please visit www.risk.lexisnexis.com and www.relx.com.
RELX is a global provider of information-based analytics and decision tools for professional and business customers. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs more than 33,000 people over 40% of whom are in North America. The shares of RELX PLC, the parent company, are traded on the London, Amsterdam and New York stock exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX. The market capitalization is approximately £46.2bn/€55bn/$57.9bn.