Darwinium introduces behavior identification to strengthen online transaction security
Australian digital security and fraud prevention startup Darwinium Pty. Ltd. today announced the addition of behavior identification to its security and fraud prevention solution to give companies insight and surety when validating online transactions and user journeys.
The features for verifying the authenticity of an online user and the intent behind their digital interactions is provided by adding digital signatures for devices and behavioral biometrics into customer journeys. The signatures can be compared with previous ones to identify returning users or high-risk behaviors even when device or behavioral elements have changed.
The company says the service provides fraud teams with additional context that enables them to make better informed, risk-based decisions about questionable activity while ensuring a secure customer journey.
Darwinium argues that current methods for identifying returning users are failing because of a number of factors. It claims that consumers have become much more privacy-focused, resulting in laws such as the General Data Protection Regulation in Europe and the California Consumer Privacy Act, and that concerns about privacy have also led to the rise of secure browsers.
The concern over privacy has also led to an increase in users using incognito or private browser modes for consumer transactions. Thrown into the mix is that mobile interactions now make up most web traffic and mobile devices have standardized hardware and come pre-installed with the same operating system, browser and other software that users rarely customize.
The shifts in user behavior makes it harder to separate trusted and risky users online. This is where the new release steps in, with Darwinium building a set of digital signatures. These are integrated device fingerprinting and behavioral biometrics solutions that equip businesses to better protect against fast-evolving artificial intelligence threats without trapping good users in a net of robust fraud controls.
“Despite the plethora of security and fraud solutions on the market, fraud persists and bad actors continue to play a winning hand,” Alisdair Faulkner, co-founder and chief executive officer of Darwinium, said ahead of the announcement. “We need to provide digital businesses with product innovations that better equip them to compete in this unfair battle.”
Faulkner added that “Darwinium digital signatures provide the backbone for recognizing more users while accurately detecting the kind of fraud that other solutions are missing.”
Darwinium is a venture capital-backed startup, having raised $26 million in funding, including a round of $18 million in October. Investors include U.S. Venture Partners LLC, Blackbird Ventures Pty. Ltd., Airtree Ventures Pty. Ltd. and Accomplice LLC.
Image: Darwinium
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