Arvato Financial Solutions has decided to partner and invest in the Israel-based cyber security company SecuredTouch to secure online payments.
The SecuredTouch platform utilises user interaction with the end devices to develop a unique user profile in the background that will validate the consumers and avoid potential misuse.
As the patterns of consumer behaviour are very hard to imitate, all the customers will receive effective protection against identity theft or account takeovers.
The technology is capable of identifying fraudulent behaviour and cyber attacks carried out by using emulators, bots and malware.
Arvato Financial senior vice-president of fraud management Robert Holm said: “Investing in SecuredTouch allows us to partner with a global leader in behavioural biometrics for mobile devices, and to reinforce our online security and fraud prevention services in the best possible manner.”
SecuredTouch CEO and founder Yair Finzi said: “Our solutions are designed and built to ensure that legitimate transactions are recognized quickly as such and can be conducted smoothly.
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“The aim is to ensure a secure, fast and convenient customer experience in mobile transactions, on a sustained basis.”
SecuredTouch procures and analyses a dynamic set of more than 100 different behavioural parameters such as keyboard typing, scroll velocity, touch pressure and other attributes to develop a user behavioural profile.
The solution continuously verifies the user to prevent fraudulent transactions and seamless experience to the customers.