Arvato Financial Solutions has invested in SecuredTouch, an Israeli cyber security firm focussed on behavioral biometrics, in a bid to combat online fraud in payment processes.
The terms of the investment were not revealed by the companies.
SecuredTouch leverages interaction between users and end devices to create unique user profile. In order to create a user profile, the firm assesses over 100 behavioral parameters including keyboard typing, scroll velocity, touch pressure and finger size.
Arvato president risk management Frank Schlein said: “Advancing digitalisation 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. I am really pleased that our involvement with SecuredTouch will enable us to enhance and expand this platform further.”
SecuredTouch CEO and founder Yair Finzi added: “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.”