Immediate Return on Investment
Behavioral biometrics is a cutting-edge technology that is now beginning to gain more attention and scrutiny. More and more field reports indicate that there are tremendous returns on investment once this technology is deployed. Traditional fraud prevention tools fall short of addressing the sophisticated methods that fraudsters are employing today. The savings due to the application of behavioral biometrics in many cases may reach millions of dollars per month, with very high fraud detection performance rates. As impressive as these values are, they represent only part of the big picture. Other less-quantifiable value dimensions such as user satisfaction are also significant.
Using well-established methodologies that look at actual fraud savings as well as operational savings due to fewer escalations to call centers, corporate users, fraud prevention departments and information security officers can apply a predictable and rational model for the best way to apply behavioral biometrics in their organizations. The value quantification process can be utilized at any organization to assess the actual business value for behavioral biometrics, but also to optimize the set of fraud detection solutions deployed, the set-up, and their threshold settings.
In addition to tremendous savings, behavioral biometrics may also accelerate the deployment of new applications and offerings, reduce risk, increase management confidence and create new growth opportunities.