Experian Acquires Behavioral Biometrics Specialist NeuroID

Experian has acquired NeuroID, a behavioral analytics specialist whose technology will add an extra layer of security to Experian’s fraud risk suite.

Founded in 2014 by Jeff Jenkins and Joe Valacich, NeuroID has spent the past decade focusing its R&D efforts on automated technology that can assess the behaviors of end users for signs of fraud, such as by looking at how they enter information on a form, or by looking at patterns around account openings and transactions. This technology has been integrated into CrossCore on Experian’s Ascent Technology Platform.

In a statement, NeuroID CEO Jack Alton framed the acquisition within what he described as “a new era of fraud driven by AI,” noting that companies are under immense pressure to ensure they know they are dealing with real, bona fide customers, and not AI-powered bots and fraudsters.

“NeuroID unlocks a new view into a user’s riskiness based on behavioral interactions,” Alton said. “This view arms companies with a proactive, first line of defense to detect sophisticated fraud rings and bot attacks.”

While the acquisition will see a more comprehensive integration of NeuroID’s technology into Experian’s portfolio, the companies actually first partnered toward the end of 2023, when they announced that NeuroID’s tech would be implemented into both CrossCore and Experian’s PreciseID anti-fraud solution.

At the time, Kathleen Peters, the Chief Innovation Officer for Experian Decision Analytics in North America, emphasized that the technology would be leveraged to “help clients make informed, automated decisions during the account opening process, ultimately helping mitigate losses.”

Experian has evidently been impressed with the results, and is now moving forward to apply the technology more broadly.

“Our acquisition of NeuroID highlights our commitment to provide our clients with world-class data, analytics and insights to prevent fraud,” explained Robert Boxberger, President of Experian’s North American Identity & Fraud business.

–

August 13, 2024 – by Alex Perala