Neuro-ID , a pioneer in behavioral analytics, today introduced ID Crowd Alert™ and ID Orchestrator™ products to help digital organizations execute large-scale Identity screening, optimized orchestration, and enhanced fraud detection. These products keep up with the development of identity platforms and enterprise customers that require very high levels of identity screening, including full know-your-customer (KYC), anti-money laundering (AML), and fraud stacks, and can visualize pre-submitted behavioral data to help make better identification decisions.
Jack Alton, CEO of Neuro-ID, said: “Recently, there has been a steady stream of news about identity fraud, and companies large and small around the world are suffering. So far, the ability to visualize group-level and applicant-level behavior has been very limited. Limited and therefore unable to strike the right balance between fraud screening and not compromising a great customer experience. Our two new products provide a combined solution to this problem. ID Crowd Alert provides industry-leading anti-fraud gangs and BoT attacks The first proactive monitoring and alerting capability, ID Orchestrator enables mass screening of applicant-level identities to provide multi-faceted visibility into pre-submission behavior and how customers enter PII. These solutions work together to help businesses avoid Fraud-related losses while protecting their most valuable asset: the customer acquisition funnel.”
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Identity platforms and enterprise anti-fraud systems have taken a variety of approaches and still have not been able to keep pace with the evolution of fraud without compromising customer experience and sales. According to a recent survey by Aite’Novarica1 , 50% of FI compliance and AML executives say “false positives” are their top concern, while KYC/CCD guidance (27%) is the second most pressing concern Pain points. In this case, genuine applicants either undergo additional security screening, a costly manual review process, or are rejected outright for lack of data. This situation leads to a poor user experience, causing users to abandon actions, reducing optimal conversion rates and triggering a digital identity crisis.
Tommy Nicholas, CEO and co-founder of Alloy, said: “Neuro-ID’s new products provide a higher level of intelligence to help our customers better orchestrate identity verification. The ability to review risk based on behavior, rather than relying on traditional static streams of data. This is a new and important factor for our customers to consider as they decide how to best respond and handle each customer.”
The company recently closed a $35 million Series B round led by Canapi Ventures and has since launched two ground-breaking products using patented behavioral analytics and intent detection technologies. Neuro-ID will continue to improve the performance of traditional systems in fraud detection, identity orchestration and customer experience optimization.
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