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Equifax expands risk-based authentication

September 27, 2013

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Starting in October, Equifax Inc. will offer expanded risk-based authentication capabilities within its identity and fraud product suite, the company has announced. The technology includes pattern and velocity detection, device recognition and risk score, and financial account validation, among other criteria. 

These risk factors combine within automated transactional decision-making for a workflow that challenges users with the most appropriate authentication based on the risk presented by the person, location, and task, Equifax said.

Equifax identity and fraud solutions provide multi-layered security and fraud mitigation that performs in the background to assess risk during enrollment, account maintenance, and ongoing transactional activity, the company said.

Customers are not limited to their own experience with a user, but have the resource of risk assessment across the Equifax network which can help identify actual or potential bad actors.

"Strong authentication methods need to be used appropriately in order to maintain a good user experience — especially in competitive businesses," said Rajib Roy, president of Equifax identity and fraud solutions. "However, we also see that 'silent' risk assessment helps identify previously unknown risks, and changes in risk situations that might have previously been deemed low-risk and so not secured with a stepped-up authentication challenge." 

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