Experian a global data and technology company, announced it has acquired NeuroID , an industry leader in behavioral analytics . NeuroID’s advanced and streamlined capabilities expand Experian’s fraud risk prevention suite, providing a new level of insight by observing digital behavioral signs and analytics for both new and returning customers throughout the customer lifecycle, including account opening, onboarding and transactions.
NeuroID’s behavioral analytics solutions are now available through CrossCore for critical fraud detection capabilities. Last year, Experian’s identity verification and fraud prevention solutions helped clients avoid approximately $15 billion in fraud losses worldwide . By seamlessly integrating NeuroID into Experian, clients can use a single service provider to proactively monitor and analyze users’ real-time digital behaviors (e.g., how they navigate forms and enter information).
The emergence of generative AI-driven fraud is prompting companies across industries, from financial services to healthcare and e-commerce, to seek new fraud detection technologies such as behavioral analytics in their onboarding and account management anti-fraud strategies. Insights gained through behavioral analytics can help reduce fraud in real time, preventing identity theft, account takeover, bot attacks, next-generation bot attacks and fraud rings, enabling businesses to provide a seamless customer experience.
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“The acquisition of NeuroID underscores our commitment to providing our clients with world-class data, analytics and insights to prevent fraud, ” said Robert Boxberger, President of Identity & Fraud, North America, Experian. “ Working with NeuroID, we are excited to build new hybrid products that not only detect risk, but also enable businesses to confidently navigate the online landscape and trust their transactions. In today’s highly competitive and digital-first world, the use of behavioral analytics will be critical to future innovations in the fight against fraud.”
“ We are in a new era of AI-driven fraud. Companies are under tremendous pressure to innovate quickly and advance the way they fight fraud,” said Jack Alton, CEO of NeuroID. “NeuroID opens a new perspective on user risk based on behavioral interactions. This provides companies with a proactive first line of defense to detect sophisticated fraud rings and bot attacks. By joining forces with Experian, we look forward to helping businesses confidently navigate this new era and deliver solutions that provide safer, more seamless experiences.”
SOURCE: BusinessWire