The Digital Risk
Financial institutions and fintechs are competing for customers in a mobile-first, frictionless payments era. With new payments-enabling technologies, mobile, and other new channels, including human contactless voice-driven banking and wearable devices, customers and businesses have shifted towards a frictionless payment experience.
As the leader in machine learning and behavioral analytics for financial crimes detection, we are proposing a path towards Friction-Right Digital Banking that will bring financial institutions back to the center of Digital Trust, which is required to securely perform any digital banking activities.
What is Friction-right Digital Banking?
The main design principle of Friction-Right Digital Banking is to identify customers with behavioral biometrics, as opposed to static identity verification, self-learn customers’ digital (online/mobile) and omni-channel payments activities, and enable the right-friction with multi-factor authentication.
Why It Matters
Customers are more and more used to frictionless mobile payments with non-bank players such as Uber and the Amazon shopping cart, hence financial institutions and fintechs are shifting more and more towards a frictionless experience for opening new accounts, and need significant investment in infrastructure and expertise in regulations compliance.
A Holistic Friction-Right Omni-Channel Fraud Detection
At the core of our Friction-Right Fraud Detection Platform is our powerful, patented, unsupervised machine learning and behavioral analytics fraud detection risk engine. It self-learns fraud schemes performed over hundreds of financial institutions and detects fraudulent activities across multiple channels such as online, mobile, wire, ACH, check, P2P, Zelle.
To fight synthetic identity fraud, we are integrating best-of-breed biometric technologies to detect liveness and score appropriately non real-user activities such as malware and bot. Together, these technologies help optimize the necessary balance between a smooth customer experience and protection from fraud.
Closed Loop Digital Identity, Banking and Omni-Channel Fraud Detection
The integration of the biometrics behavioral analytics with online, mobile banking and omni-channel behavioral analytics enables the closed loop fraud detection between digital identity, digital banking and omni-channel payments.
Digital Identity Behavior
Learn and detect human vs. non-human signals, fraud behavior risk, self-learn from person’s history data familiarity. Enables friction-right with 3rd party MFA.
Digital Banking Behavior
Learn and detect your online and mobile authentication patterns including your user account management activities.
Omni-channel Payments Behavior
Learn and detect your payments transactions patterns, baseline frequency, recipients, transactions velocity, fraud risk, enables payments interdiction/intervention.
Guardian Analytics offers the right combination of machine learning and behavioral analytics to create Friction-Right Digital Banking. Together, these technologies help optimize the necessary balance between a smooth customer experience and protection from fraud.