The new partnership between Arvato Financial Solutions and SecuredTouch aim at fighting online fraud in payment processes, while creating a frictionless digital experience for customers.
Frank Schlein, President Risk Management at Arvato Financial Solutions highlighted: “Advancing digitalization means that protection against cybercrime is essential. This is why we have been looking closely at this area for several years and have developed and installed a solution that offers our clients comprehensive protection.” Robert Holm, Senior Vice President Fraud Management at Arvato Financial Solutions added: “Investing in SecuredTouch allows us to partner with a global leader in behavioral biometrics for mobile devices, and to reinforce our online security and fraud prevention services in the best possible manner.”
The technological platform operated by Israeli behavioral biometric pioneer SecuredTouch creates unique user profiles, based on the interaction between users and end devices, authenticating consumers in the background, thus preventing misuse. Basing the profile on behavioral online shopping patterns offers consumers an efficient protection against identity theft or account takeovers, as those patterns can rarely be imitated. The technology detects fraudulent behavior and attempted fraud through automated computer attacks carried out using emulators, bots and malware. "Our solutions are designed and built to ensure that legitimate transactions are recognized quickly as such and can be conducted smoothly. The aim is to ensure a secure, fast and convenient customer experience in mobile transactions, on a sustained basis", said Yair Finzi, CEO and founder of SecuredTouch.
German-based Arvato has a long-established history of international partnerships with top players from different industries, a strong added value of the investment. “We see a clear synergy between the offerings and strategies of Arvato Financial Solutions and SecuredTouch. We have created a partnership that will enable SecuredTouch to expand its international presence and enhance its positioning in the areas of fraud and authentication. Arvato Financial Solutions with its international expertise in risk and fraud management is an ideal investor and partner for this purpose.”, added Yair Finzi.
SecuredTouch, one of the digital fraud prevention pioneers, gained a leading role in the industry worldwide by focusing on mobile applications. The company is based in Israel, an internationally renown digital start-up hub, with a prominent innovation and entrepreneurialism scene.