GEC NEWS WIREHID Global introduced a new cyber threat and fraud detection service that brings artificial intelligence (AI) and machine learning to identity & access management, addressing the rising incidents of cyberattacks, especially against financial institutions. The new HID Risk Management Solution is a real-time risk profiling technology that uses data analytics to protect financial transaction systems and banking applications against cybercriminals. HID will demonstrate the new IAM solution at the RSA Conference 2018 in San Francisco next month.
The ever-changing threat landscape that makes it more challenging to secure online and mobile financial applications has created an urgent need to improve the detection of fraud and cyberattacks and accelerate the prevention of costly damage. The new HID Risk Management Solution meets this need by combining evidence-based detection capabilities and behavioral biometrics, supported by machine learning. This HID cyber security solution is designed to protect banks, online merchants and service providers against zero-day malware, account takeover, phishing attacks and bots, among other threats.
“The HID Risk Management Solution gives businesses and consumers a new defense against cybercrime,” said Brad Jarvis, Vice President and Managing Director of Identity & Access Management (IAM) Solutions with HID Global. “By combining HID’s expertise in identity and access management with new capabilities in AI and machine learning, we are enabling organizations to better manage risk, protect customer data and defend against fraud, malware and data breaches. The combination of our HID Risk Management Solution and our mobile-based authentication application, HID Approve, creates a unique blend of security and user authorization.”
Adding trust to online transactions and preserving the integrity of digital business interactions, the HID Risk Management Solution is fully integrated with HID’s ActivID® Authentication Platform, which provides multi-factor authentication to protect users’ IDs, transactions, devices and accounts.
The merging of multi-factor authentication with the new level of AI-driven, cyber threat and fraud detection is a strategic advancement that delivers risk-based, frictionless and adaptive authentication based on data intelligence. It increases security while optimizing the user experience as seamless – without any inconvenience to consumers.
