Benefits and Use Cases for Behavioral Biometrics
The term behavioral biometrics is an interesting misnomer in some ways because it's not a physical biometric such as a fingerprint or facial recognition. With behavioral biometrics, it's more an analysis of somebody's behavior patterns: how they interact with a mobile device; how they enter data into a keyboard; the cadence with which they're doing this.
We're seeing increasing use of behavioral biometrics for ongoing account recognition use cases (where your existing customer is logging into their account), and for new account opening use cases. New account onboarding is really interesting, because that's where the way that somebody enters their data will be very different if it is their data that they're familiar with, versus a fraudster that just bought that data 10 minutes ago off the dark web. We're seeing a lot of benefits of behavioral biometrics, specifically for new account opening.
As we look at the use of behavioral biometrics for new account onboarding, I spoke at an event a couple of months ago and there was somebody from a large regional bank that had just deployed behavioral biometrics for their onboarding of new credit card applications. They said that they saw a 30% uplift in their detection capability just with the addition of behavioral biometrics.