LexisNexis Risk Solutions Acquires Behavioural Biometric Innovator BehavioSec
New Blended Behavioural Biometrics Solution Will Offer More Defence Layers and Further Establish Identity Trust for Customers without Adding Friction
LONDON, May 3, 2022 /PRNewswire/ -- LexisNexis® Risk Solutions, part of RELX, has announced the acquisition of BehavioSec®, an advanced behavioural biometrics technology provider. Founded in Sweden in 2008 with a presence in the U.S., Canada and EMEA, BehavioSec provides a highly predictive behavioural biometrics solution that uses behaviour 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. "Behavioural biometrics are an important component of the digital channel control framework, helping with both detection and authentication in a passive manner."
Behavioural 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 organisations 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 touchpoin.
BehavioSec brings the ability to convert complex mobile signals from touchscreen and sensors into rules and advanced mobile behavioural 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 behavioural data for enhanced authentication processes.
Rick Trainor, Business Services CEO, said, "Behavioural biometrics is a valuable component in fraud prevention strategies that layer defences to tighten the net that stops fraudsters. Founded 14 years ago by a team of highly accomplished visionaries, BehavioSec is a forerunner in the behavioural biometrics segment and continues to evolve and innovate ahead of any other behavioural biometric solution available today. Our combined customer base will benefit significantly from a blended behavioural biometrics solution within ThreatMetrix that offers more defence 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 behavioural biometrics alongside a successful, innovative company looking to further evolve our advanced capabilities."
The new fraud prevention tool will allow access to behavioural biometric solutions by larger organisations when combined with ThreatMetrix®, while serving small to mid-sized organisations seeking a stand-alone behavioural biometrics offering.
DBO Partners served as the exclusive financial advisor to BehavioSec.
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