Sign up for The Paypers newsletter Follow The Paypers on LinkedIn Follow The Paypers on Twitter Follow The Paypers on Facebook
The Paypers, paypers, Insight in payments, News, Reports, Events
 advertisement
Digital Identity, Security & Online Fraud

National Australia Bank considers behavioral biometrics for fraud prevention

Tuesday 9 April 2019 | 10:34 AM CET

The Sydney Morning Herald has reported that the National Australia Bank is discussing how to leverage biometric technology to protect customers from new kinds of financial crime.

The NAB has discussed with two Israeli artificial intelligence and biometrics companies, and it has run a pilot with a biometrics provider in order to identify suspicious behavior. The bank mentioned that the provider is a behavioral biometrics company like BioCatch, however the group is not identified in the report. Moreover, BioCatch announced several new tier-one bank customers in Latin America had signed on for its fraud prevention technology in October 2019.

Also, AI big data company SparkBeyond is also reported to be close to a deal with the NAB. Australia’s banking royal commission criticised the country’s banks for poor fraud detection capabilities. As such, the biometrics provider the NAB is in talks with offers a solution for preventing identity takeovers, money laundering, and other financial crime.

More: Link
 advertisement
 advertisement
 advertisement
 advertisement