Context-based security and fraud prevention company ThreatMetrix unveiled on Monday the company’s Digital Identity Network, a solution designed to help protect consumers and businesses against fraudulent activities.
Powered by the company’s shared global trust intelligence network, ThreatMetrix Digital Identity Network creates an anonymized profile of consumers based on their devices and behavior when conducting online transactions.
This digital identity includes email addresses, devices, personal and business personas, and geo-locations, allowing organizations to protect their customers’ information, while protecting themselves against fraudulent activity. The data is collected by ThreatMetrix as a result of the analysis of over one billion monthly transactions.
“ThreatMetrix has built the largest digital identity network that can determine when an individual’s credentials are being used by cybercriminals in real time, which enables businesses to better understand the global footprint of stolen identities,” noted Alisdair Faulkner, chief products officer at ThreatMetrix.
According to the security firm, the ThreatMetrix Digital Identity Network enables financial institutions to protect their customers’ accounts against bot attacks leveraging stolen information by pinpointing anomalies based on a global view of behavior and devices.
It’s not uncommon for organizations to attempt to prevent fraud by analyzing their customers’ online behavior. However, ThreatMetrix says its Digital Identity Network is different because it analyzes the use of a digital identity across multiple websites.
The solution is also capable of flagging transactions in real time if it determines that they are not carried out by the account’s legitimate owner.
“Businesses need a digital identity network to fight the sophisticated network of cybercriminals,” said Faulkner. “Specifically, such a network can immunize the digital debris that comes from data breach fallouts. The ThreatMetrix Digital Identity Network locks down identities by providing businesses with an anonymized view of their devices, personas and behaviors so identities cannot be easily spoofed by cybercriminals.”
ThreatMetrix is showcasing the Digital Identity Network this week at the RSA Conference in San Francisco.