As part of a new partnership, cybersecurity consulting firm Paramount will offer the online fraud detection and response (FDR) platform from behavioral biometrics company Revelock to financial institutions in the Middle East.
The FDR platform uses artificial intelligence and behavioral biometrics to develop a “granular level” understanding of each user. It also detects unusual changes to a user’s device or network.
The software immediately blocks any impersonation or tampering attacks such as remote access Trojans while aiming to ensure a smooth user experience. Paramount will integrate Revelock’s platform into its suite of cybersecurity solutions that enable financial institutions to actively defend attempted fraud.
“We’re always looking for the latest technology to help banks stay one step ahead of fraud – and stay there,” said Premchand Kurup, CEO of Paramount.
“Revelock’s accuracy in detecting fraudulent attacks and then proactively responding and blocking those attempts makes it a must-have for us. We look forward to working with them and we are offering our customers the opportunity to take advantage of the cutting edge technology already used by banks internationally to reduce fraud losses and reduce the costs and workload of internal fraud teams. “
Revelock was renamed by Buguroo in the spring and recently acquired by the AI risk management platform Feedzai to become the world’s largest Financial Intelligence Network (FIN) for secure cashless transactions. It is now branded as “A Feedzai Company”.
Behavioral Biometrics | Biometrics | continuous authentication | Cybersecurity | Financial Services | Fraud Prevention | Middle East | Revelock