Global data and technology company, Experian has acquired NeuroID, the behavioural analytics firm, to expand its fraud risk suite.
The new partnership will see Experian implement NeuroID’s modern capabilities which will in turn provide a new layer of insight into digital behavioural signals and analytics. Consequently, these will be observed for both new and returning users throughout the customer lifecycle. This includes account openings, logins and transactions.
“Our acquisition of NeuroID highlights our commitment to provide our clients with world-class data, analytics and insights to prevent fraud. Together with NeuroID, we’re excited to build new blended offerings that detect risk but also empower businesses to confidently navigate the online landscape and trust in their transactions,” said Robert Boxberger, president of Experian’s North American identity and fraud business.
“In today’s highly competitive and digital-first world, the use of behavioural analytics is now vital for innovating for the future of fighting fraud.”
Empowering businesses
NeuroID’s behavioural analytics solutions are available through CrossCore on the Experian Ascend Technology Platform as a key fraud-detection capability. Experian’s identity verification and fraud prevention solutions helped clients avoid an estimated $15billion in fraud losses globally last year.
With NeuroID integrated into Experian, clients can use one service provider to proactively monitor and analyse a user’s real-time digital behaviour. For example, how they navigate a form and enter information.
The emergence of generative AI-driven fraud has motivated companies across industries from financial services to healthcare and e-commerce to seek new types of fraud-detection technology. Insights from behavioural analytics help mitigate:
This will empower businesses to provide a seamless customer experience.
“We are in a new era of fraud driven by AI. Companies are under immense pressure to rapidly innovate and advance their approach to fighting fraud. NeuroID unlocks a new view into a user’s riskiness based on behavioral interactions,” said Jack Alton, CEO at NeuroID.
“This view arms companies with a proactive, first line of defense to detect sophisticated fraud rings and bot attacks. By joining forces with Experian, we’re looking forward to helping companies confidently navigate this new era with solutions that enable more secure and frictionless experiences.”