Gemalto launches Assurance Hub, using biometrics & machine learning to stamp out fraud in online banking

Digital security provider Gemalto on Tuesday announced a new risk assessment solution for online banking, providing adaptive authentication powered by machine learning and biometrics. The system will allow for simple sign-ins when added security is not necessary, while adding additional identification measures only when required.

The new Gemalto Assurance Hub analyzes the profile and behavior of customers in real time, thanks to machine learning and big data. The system is built on thousands of attributes, including biometric data, keypad style, user behavior, device profiling, and location data.

The system aims to get out of the way when a low-risk event takes place. But if a user accesses a bank account from an unusual location, then additional security measures, such as biometric authentication, may be requested to validate the transaction.

“As the world gets more digitally connected, the most important challenge is knowing who you are dealing with,” Gemalto Chief Executive Philippe Vallee told One World Identity on Tuesday at the Money20/20 Europe conference in Copenhagen. “How can we provide very good authentication with increased security, compliance with regulation, and improved user experience at the same time? That is the question.”

Gemalto’s approach aims to benefit users by providing nonintrusive security within a trusted environment. Vallee said their goal is to “increase customer experience without decreasing security.”

He said that the system will also combine sources of data from different engines, such as social analytics and threat analysis. To build out the system, Gemalto is partnering with authentication providers ThreatMetrix and BehavioSec.

The company says it is the only solution that will offer banks a single platform that integrates best-in-class fraud detection technologies, and come with a single policy and fraud intelligence console.

The Gemalto Assurance Hub uses a flexible hub approach, integrating existing bank solutions and evolving over time to include the latest fraud protection technology.

“I would say my dream, my ideal experience would be to do nothing to be authenticated,” Vallee told OWI. Digital channels create lots of metadata. New systems leveraging AI can then aggregate and analyze these data signals.”

OneWorldIdentity’s Dasha Cherepennikova contributed to this report.