FINAL WORD
Behavioral
Biometrics :
Effectiveness and cost reduction in digital platforms
Matheus Raposo , Risk and Performance Consultant at ICTS Protiviti Brazil , explains that the mechanisms involving behavioral biometrics can identify fraud risks before monetization , without interfering in the flow of the user experience on the platform .
Preventing fraud and chargebacks , increasing transaction approval rates and reducing costs with anti-fraud tools are certainly some of the main objectives and key results present in basically all anti-fraud structures of digital platforms , such as e-commerce , fintechs and even digital banks .
However , orchestrating a fraud prevention system that is capable of guaranteeing the overcoming of expectations in all of these aspects can be a challenging task . This is because traditional approaches to transactional anti-fraud tools often operate to make them part of a trade-off .
For example , to ensure a level of chargeback control , approval rates often fall , and this can compromise the user experience and even frustrate loyal customers who are unable to complete their journeys across digital platforms .
Matheus Raposo , Risk and Performance
Consultant at ICTS Protiviti Brazil
Additionally , the effectiveness of the assessments is compromised in transactional anti-fraud approaches , as we have experienced mega data leaks , the largest one being with 223 million Brazilians , that took place in early 2021 . As these algorithms basically compare the registration and transactional data of users to the history of transactions previously carried out by the user to guide decision making regarding the approval or disapproval of the transaction , a fraudster , in possession of user data with a good history , can cheat these traditionally used protective layers .
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