NEWS
Experian acquires behavioural analytics pioneer NeuroID to combat AI-enabled fraud
Experian , the global data and technology company , announced that it has acquired NeuroID , an industry leader in behavioural analytics . NeuroID ’ s modern and frictionless capabilities amplify Experian ’ s fraud risk suite by providing a new layer of insight into digital behavioural signals and analytics observed for both new and returning users throughout the customer lifecycle , including account openings , logins and transactions .
NeuroID ’ s behavioural analytics solutions are available now through CrossCore on the Experian Ascend Technology Platform as a key fraud-detection capability . Experian ’ s identity verification and fraud prevention solutions helped clients avoid an estimated US $ 15 billion in fraud losses globally last year . With NeuroID seamlessly integrated into Experian , clients can use one service provider to proactively monitor and analyse a user ’ s realtime digital behaviour ( for example , how they navigate a form and enter information ).
The emergence of Generative AI-driven fraud has motivated companies across industries from financial services to healthcare and e-commerce to seek new types of frauddetection technology , such as behavioural analytics , within their originations and account management fraud strategies . Insights from behavioural analytics help mitigate fraud in real time and prevent identity theft , account takeover , bot attacks , nextgeneration bot attacks and fraud rings – empowering businesses to provide a seamless customer experience .
“ Our acquisition of NeuroID highlights our commitment to provide our clients with world-class data , analytics and insights to prevent fraud . Together with NeuroID , we ’ re excited to build new blended offerings that detect risk but also empower businesses to confidently navigate the online landscape and trust in their transactions ,” said Robert Boxberger , President of Experian ’ s North American Identity and Fraud business . “ In today ’ s highly competitive and digital-first world , the use of behavioural analytics is now vital for innovating for the future of fighting fraud .”
Mastercard announces plans cut around 3 % of global workforce
Mastercard has announced plans to cut around 3 % of employees , with around 1,000 people to be effected as a result of recently announced ‘ organisational changes ’.
These organisation changes where announced in April , with mastercard realigning its organisational structure . The new structure saw the introduction of Core Payments , Commercial and New Payment Flows and Services as three interdependent units . At the time , CEO Michael Miebach said this strategic shift was actioned to “ diversify our revenue streams and differentiate our products and solutions ”.
The news of the layoffs follows a successful Mastercard ’ s Q2 2024 financial results , which saw the company report net revenue of US $ 7 billion , up from US $ 6.3 billion in Q2 2023 .
A Mastercard spokesperson tells another news outlet , FinTech Futures , that the company intends to ‘ redeploy resources into growth areas ’ as it implements these changes .
“ Some of these include opening acceptance in new verticals and continuing to apply technology in ways that help us realise even more of the shift to digital across both consumer and commercial ,” said the spokesperson .
“ These actions will impact approximately 3 % of our full-time employees globally and a majority of the notifications are expected to be completed in the third quarter . And , as is our normal practice , we will provide support to everyone impacted by these actions ,” the spokesperson added .
10 www . intelligentfin . tech