Deciphering the Decentralized Biometrics Landscape
A storm is brewing in the identity industry. It is being caused by a trifecta of factors - consumer desire for...
FIRST-PARTY FRAUD PREVENTION
Can you be sure a fraud claim is legitimate?
Unlike third-party fraud, with first-party fraud, individuals manipulate their own information or intentionally misrepresent it, making it very difficult to detect using traditional methods of payment fraud prevention, threatening financial services security. With Anonybit, you can require individuals to biometrically sign a transaction, creating an irrefutable audit trail that you can always rely on for financial services security without compromising the user experience. A simple selfie capture is all you need to outsmart even the most deceptive actors.
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Why Anonybit for First-Party Payment Fraud Prevention
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Best protection against fraud
Biometric authentication with built in liveness and injection detection makes it exceptionally challenging for fraudsters.
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Irrefutable biometric audit trail
Each transaction is logged for forensic analysis in the event of an incident or chargeback.
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High accuracy and seamless UX
Quick selfie biometric capture provides payment fraud prevention that does not disrupt the user journey.
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Privacy-by-design framework
Decentralized biometrics backend ensures compliance with GDPR, CPRA, PIPEDA and other privacy laws.
How it works
Beat fraudsters at their own game.
Capture biometric and convert into sharded, anonymized bits
Compare the new “anonybits” against their stored counterparts and return a matching score in milliseconds
If the authentication passes, create a unique signature and bind it to the transaction; record in the log
Discover more ways to use Anonybit
Step Up Authentication
Ensure strong authentication when there is risky activity or other increased risk factors in a transaction
Biometric OTP
Replace an easily phishable code with biometrics for passwordless authentication
Transaction Verification
Create a biometric audit trail signature for compliance and quick processing of financial transactions
ANONYBIT GENIE MODULES
Close the gaps that attackers exploit.
The Anonybit Genie is the first integrated identity management system built with privacy-by-design and financial services security from the ground up. Connecting the user lifecycle from digital onboarding to authentication and beyond with persistent biometrics, Anonybit eliminates passwords, knowledge questions and other weak identifiers and ensures a seamless user experience at all service points – online, in person, in the chat, and on the phone – while maintaining the highest levels of user privacy.
Want to see how it works?
Digital Onboarding
Device Binding
Authentication
Account Recovery
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"I've spent my entire career chasing hackers and counteracting cyberthreats. As long as there is no strong assurance as to who people are who they claim to be, hackers will always win and it will continue to be a cat and mouse game. With its decentralized biometrics infrastructure, Anonybit is getting to the root of the problem by pulling the plug on the lifeline of hackers - centralized storage of personal data.”
RESOURCES
Stay current on the latest in identity, biometrics, fraud prevention and privacy compliance.
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Are you ready to eliminate the risk of data breaches and account takeover fraud?
Get rid of central honeypots of data. Embrace biometrics across the user lifecycle.