Gartner recently released its Market guide for Identity Proofing and Corroboration for 2018, where buguroo has been recognized as a representative, effective vendor in the market for fraud prevention.
The report was prepared on the basis of independent surveys conducted in more than 712 enterprises belonging to a variety of industries, such as banking, finance, insurance, retail and healthcare, in 5 countries and on different continents (USA, Brazil, UK, Germany and India). In these enterprises, concern about fraud is high on the agenda and they also frequently mention buguroo as an effective solution for thwarting the types of fraud they currently encounter online.
In this regard, worthy of note are the following statistics presented in the report that reveal the areas the companies consulted are most concerned about when it comes to preventing fraud attacks:
- 32% of enterprises are concerned about fraud stemming from identity theft (Stolen Identity Fraud) and from new user account creation processes (New Account Fraud).
- 27% are highly concerned about the level of fraud committed during payment processes (Payment Fraud).
- 23% have concerns about fraud caused by user account impersonation (Account Takeover Fraud).
- 18% are worried about curbing fraud resulting from attacks made by fraudulent call center or other services.
According to Gartner, digital identity security needs to evolve from identification models that traditionally placed their trust in static authentication methods, such as pin codes, passwords and security questions (Static PII – Personally Identifiable Information), due to the high risk of their being compromised nowadays, towards more dynamic, adaptive, risk-level based models, which are able to assess the identity of a user not only by relying on digital credentials, but also by rounding off and enhancing this assessment through the continuous, comprehensive use of other sources or signals within their context (digital verification of ID documents, the user’s physical or behavioral biometrics, etc.) that serve to offer a gradual risk verdict for every digital transaction or operation carried out by a customer.
Different Identity proofing and corroboration domains vision according to Gartner.
Image extracted from Gartner Market guide for Identity Proofing and Corroboration (April 2018)
In this respect, buguroo’s technology has not only been spotlighted for its comprehensive assessment of the risk level of the place where a user carries out an online transaction (what Gartner calls Digital Attribute Corroboration and Assessment), taking into account data such as the type of device used for the transaction, the operating system version, the network, whether the device is recognized as malicious, contains malware, is an emulator or a bot, etc., but it has also been mentioned for its ability to recognize identities through the continuous analysis of the behavioral biometrics of an individual in their interaction with a digital service (what Gartner calls Navigation and Behavior Analysis and what is known by other players in the industry as Behavioral Biometrics technology), using as its basis parameters relating to the user’s keystrokes, their speed, their mouse movements, the time intervals between one movement and another, the way in which they hold their mobile phone, pressure, etc. Through all of the above, buguroo guarantees the unambiguous identification of every user with respect to another, thus foreseeing any attack where an attempt is made to impersonate or manipulate a user during login or a transaction or the use of any online service.
Piece of Identity proofing and corroboration representative vendors table extracted from Gartner Market guide for Identity Proofing and Corroboration (April 2018)
If you require any further details about buguroo technology, please check out the information available on our website www.buguroo.com.