Best Antifraud Solution
This year, a panel of judges recognized NuData Security with the CNP Judges Choice Award for Best Antifraud Solution. Vancouver-based NuData launched NuDetect in 2013 with the belief that greater security can be achieved without sacrificing user experience. It combines real-time predictive behavioral analytics with passive biometrics based on non-PII information, integrated with enhanced deviceID/connection and geolocation intelligence.
By taking an aggregated, complex profile based on those characteristics and comparing it across all networks using NuDetect, the company says its solution offers real-time entity linking and gives clients unparalleled accuracy in knowing who their users are.
NuDetect can not only verify with a high degree of certainty the user behind a device, but it can also predict and prevent online fraud in real time, according to the company. This means organizations can protect their businesses from brand damage and financial loss caused by fraudulent or malicious attacks while building and maintaining customer trust.
NuData Security’s primary customers are e-commerce and financial institutions, focusing on the Fortune 100 in banking and the Fortune 500 in e-commerce, with revenues between $250 million and $60 billion. The company also serves leading companies in the healthcare, insurance, gaming/gambling, telecom, and airline industries.
What NuData says sets its online fraud detection solution apart from its competitors are its multiple layers delivered in one solution. Its diversity of intelligence offers improved fraud capture rates and accurate detection of attacks that are evading detection of other tools, the company says.
NuDetect customers value the positive effect on conversion most—effectively increasing revenue through the reduction of friction points through the e-commerce process and the ability to provide added incentives to known good users.
NuDetect is self-learning, able to pick up on subtle nuances and adjust to become more powerful and accurate over time, meaning it’s able to predict emerging threats, not just existing ones.