LexisNexis has announced the acquisition of BehavioSec.
“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.
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.