UK bank Natwest has trialled a behavioural biometrics system designed to offer continuous authentication throughout an online banking session, using more than 500 behaviour patterns to identify users and prevent fraud from unauthorised logins and automated attacks.
Working with cybersecurity company BioCatch, the technology has been deployed at Natwest since the start of 2016 within Coutts and with some business customers. A pilot with personal banking customers is now on course to take place in 2017.
More than 500 points of behaviour such as hand-eye coordination, pressure, hand tremors, navigation, scrolling and other finger movements are monitored to create a unique user profile.
It is designed to recognise anomalies in behaviours from the moment a user logs on throughout the entire online banking session, allowing it identify unauthorised users as well as automated bots, malware and other malicious account takeover attacks.
Simon McNamara from Natwest says the technology has played a “crucial role in strengthening our security systems”, saving the bank losses from fraudulent attempts to transfer funds, remote access trojans and fraud attempts across multiple channels online and mobile.
BioCatch raised US$10m in 2014 to expand its behavioural biometric authentication platform, which is also available to online merchants to manage high-risk transactions and authenticate repeat customers.