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Additional Info

Company (that provides the nominated product / solution / service)Buguroo
Company size (employees)50 to 99
Type of solutionSoftware

In 3 bullets, summarize why this product or service is different from the competition and deserves recognition:

1. Fraud protection leveraging the unique combination of behavioral biometrics and deep learning technology.
buguroo’s anti-fraud offering for banks is rooted in behavioral biometrics-based user authentication technology. buguroo creates unique ‘BionicIDs’ for each user as they access and move around in a bank’s system. It collects behavioral biometric data such as typing rhythm, mouse movements and scrolling speed to determine if users are who they say they are. When a user’s behavior doesn’t match up to their usual patterns of behavior, banks can respond to the threat and block the fraud.

2. Frictionless transaction experience for the user – maximum revenue for the issuer.
Behavioral biometrics means buguroo’s technology delivers passive protection, working behind the scenes to analyze the user’s behavior throughout their entire online session. In an e-commerce setting, buguroo’s unique 3D Secure offering enables card issuers to rapidly recognize genuine customers and fraudsters, and safely approve or deny risky card-not-present transactions. Layering buguroo’s solution with 3D Secure keeps legitimate customers and their money safe, without adding friction to the transaction experience or introducing an obtrusive or time-consuming verification element into the process. Transparent, rapid verification ensures a loyalty-boosting customer experience while preventing losses.

3. Provides Strong Customer Authentication for PSD2 and complies with GDPR.
With more stringent financial regulation on the horizon, buguroo’s behavioral biometrics technology provides rich fraud protection while enabling banks to remain compliant with data privacy (GDPR) and Strong Customer Authentication (PSD2) rules. Since personal information can be stolen, imitated or replicated, it is ineffective for fraud prevention. Instead, buguroo’s technology continuously scans users’ unique behavioral biometric patterns and compares them to their BionicIDs to provide accurate authentication.

Brief Overview

buguroo couples behavioral biometrics with deep learning technology to accurately and continuously authenticate the identity of customers, in order to protect them from the greatest number of fraud use cases on the market.

It works by creating a unique ‘BionicID’ profile for each user by gathering information relating to their behavioral biometrics, constantly analyzing thousands of parameters such as the way in which a user types, moves their mouse, or taps their mobile screen. It also takes into account a session’s dynamic context to understand which devices, broadband networks or geolocations – amongst other contextual factors – were in use.

Using this profile, as well as enhanced malware detection technology, the solution uses deep learning to analyze even the smallest of anomalies, enabling financial services organizations to detect fraud before it happens and take preventative action, such as requiring additional security checks.