Passwords, SMS text messages, and Social Security numbers are all highly stealable by criminals. What's far less stealable is behavioral data-how a consumer interacts with their device, such as how they touch the keypad, when they log in, what screens they access, or even how they hold their mobile phone.
That's why one-quarter of banks and credit unions use behavioral modeling for fraud prevention of identification verification. One data element in behavioral modeling is location-is the consumer where you expect them to be? To get the most accurate location, we triangulate IP geolocation with additional sources, such as cell phone towers and Wi-Fi. We then check that location against offline consumer data. Is the transaction taking place thousands of miles from the consumer's home address? If so, the transaction may require additional verification.
Watch this video to learn how financial institutions that incorporate behavioral data into their identity intelligence can reduce compliance risk, increase revenues, and provide a great consumer experience.