Disruptor of the Day Interview Series: In our new interview series, we interview leading entrepreneurs and executives that are leveraging technology to disrupt their industry. In these interviews, our goal is to understand why the industry is ripe for disruption, how they are changing it and what the future looks like from the perspective of an industry thought leader.
Interview: Lisa Baergen, Director of Marketing
Why is your industry ripe for disruption?
LB: 3 billion passwords were stolen last year (223,821 data records are lost or stolen every hour) and consumers have lost more than $16 billion to identity theft and fraud in 2016 alone according to Javelin Research. It is a global problem that online companies are trying to solve, it is the challenge of truly verifying real customers online from impersonators and hackers.
How are you disrupting your industry? What technology are you using to do it?
LB: NuData Security is an award-winning passive biometrics and behavioral analytics company. Their flagship product, NuDetect, helps companies identify users based on their online interactions – behavior that can't be mimicked or replicated by a third party. NuDetect analyses hundreds of device, location, passive biometric and behavioral signals to build an ongoing digital identity. Unlike single-point solutions, NuDetect uses the power of its four integrated technologies to detect anomalous and high-risk behavior in real-time and across their aggregated Trust Consortium. This analysis informs clients of fraud risk and gives them choices about what actions to take even before the transaction. NuDetect analyzes nearly 100 billion online interactions yearly. NuData is trusted by some of the largest global brands in the world to verify users with their own natural behaviors and offer a great customer experience.
What problem are you solving for customers?
LB: For customers, NuData Security is reducing risk and fraud for online companies, financial companies, Banks and eCommerce. For their customers, NuData Security provides a seamless experience for true customers through passive biometrics and behavior analysis. Hackers can steal passwords, credentials and devices, but they cannot mimic human behavior which renders stolen information valueless.
What’s the future of the password protection industry?
LB: Ultimately, the future of the industry is to create a frictionless environment where consumers are immediately recognized online no matter what device, or location they are from to purchase services, products or conduct any online business without the fear of cybercriminals stealing their passwords, credentials and devices to steal money, fraudulently open accounts or buy products or services. In this digital first climate, it is imperative we provide consumers a seamless convenient experience without the fear of fraud.
For more information www.NuDataSecurity.com