Quadrant Knowledge Solutions announced today that it has named Feedzai, the world’s first RiskOps platform for financial risk management, as a 2022 technology leader in the SPARK Matrix: Behavioral Biometrics, 2022.
Quadrant Knowledge Solutions defines Behavioral Biometrics as “technology that passively and continuously monitors, analyzes, and authenticates users based on their digital and cognitive behavior, such as typing cadence, keystroke pressure, mouse activity, tremors, and touchscreen interactions.” Behavioral Biometrics leverages advanced analytics and machine learning to access a user’s behavioral data from multiple channels to build a risk profile which enables security and risk professionals to identify and intercept anomalous behavior in real-time.”
Nehan Jain, Analyst at Quadrant Knowledge Solutions commented “Feedzai’s Digital Trust solution offers robust Behavioral Biometrics capabilities across the entire fraud risk lifecycle. The company stands out in the global Behavioral Biometrics market owing to its solution’s differentiated offerings, such as behavioral analytics based on AI/ML models, insights from real-time fraud signals enhancing fraud detection techniques, and active defense technique which helps with both detection and remediation of fraud attacks.” With its comprehensive functional capabilities, strong customer value proposition, and compelling ratings across customer impact and technology excellence parameters, Feedzai has been recognized as a leader in the 2022 SPARK Matrix: Behavioral Biometrics.”
Pedro Barata, Chief Product Officer, at Feedzai added: “We are honored to be named 2022 technology leader by Quadrant Knowledge Solutions. This recognition proves that Feedzai is at the forefront of innovation when it comes to protecting the world’s largest financial institutions and their consumers: with the acquisition of Revelock and native integration with our RiskOps Platform, we were able to add behavioral biometrics to our product and predict the future applicability for this technology in things like scams which are one of the biggest trends of the moment in our sector.
“To have Feedzai’s Digital Trust platform – that helps financial institutions fight malwares, impersonation, and network manipulation attacks – being recognised as a top performer in the behavioral biometrics market is a fantastic achievement, and testament to the hard work of the whole Feedzai team. We are committed to developing technology fit for the future as we continue in our mission to combat financial crime.”
The Quadrant Knowledge Solutions’ SPARK Matrix includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading technology vendors in the form of its SPARK Matrix. The study offers strategic information for users to evaluate different provider capabilities, competitive differentiation, and market position.
Financial institutions have incorporated Behavioral Biometrics technology into their workflows to enable continuous verification and authentication of a user’s identity throughout the session and not just at the entry login point. This incorporation was driven by the rise of sophisticated fraud attacks and the inefficiencies of physical biometrics. While the technology is still in an emerging state, it provides a wide range of advanced functionalities for multiple use cases supporting account takeover protection, account origination fraud, social engineering scams, proactive mule detection, protection against malware infections and RAT attacks, device & network anomalies, and digital payment monitoring through continued innovation and investments by leading vendors.