buguroo Launches Behavioural Biometric 3D Secure Solution to Curb Card-Not-Present Fraud
- Security , Fraud Detection , Risk Management
- 24.09.2020 02:07 pm
buguroo, the leading provider of customer identification solutions to prevent online fraud for the financial sector, today announced its 3D Secure solution to enable credit and debit card issuing financial organisations accurate and frictionless 3D Secure risky transaction verification. The new solution utilises behavioural biometric analysis to quickly identify fraudulent eCommerce, Card-Not-Present (CNP) transactions and prevent lost revenue for card issuers and merchants.
The new 3D Secure offering – part of buguroo's unique behavioural biometric customer identification capabilities – detects CNP fraud at the point of the 3D Secure verification challenge. It analyses a user's keystrokes comparing them to known customers and fraudsters, helping card issuers rapidly and safely approve or deny risky transactions and avoid chargeback liabilities due to compromised card information – all without impeding legitimate transactions.
"The 3D Secure payment authentication system was designed to reduce CNP fraud but many questionable transactions based on high-priced purchases, new devices or locations are not fraudulent and require an additional level of verification," said Pablo de la Riva, founder and CEO, buguroo. "The buguroo 3D Secure offering is a go-to solution for card issuers looking to minimise fraud costs and ensure legitimate customers enjoy frictionless online transaction experiences."
buguroo's anonymised user data technology ensures compliance with cybersecurity industry standards such as the European Union's Strong Customer Authentication laws, PSD2 and GDPR.