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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Experian plc    EXPN   GB00B19NLV48

EXPERIAN PLC

(EXPN)
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Experian : and BioCatch Provide a Global Financial Services Provider With a 73% Lift in Fraud Detection

09/21/2020 | 08:03am EST

Layered behavioral biometrics, device intelligence and machine learning drive stronger account opening fraud detection and substantial operational improvements

Amidst the pandemic, consumers have progressively shifted more and more of their activities online. Concurrently, there has been a surge in fraudulent attempts - industry data suggests that, since the beginning of the COVID-19 pandemic, there has been a 33 percent increase in account opening (AO) fraud1. Furthermore, 57% of businesses have reported higher losses from account opening and account takeover fraud in the past year, per 2020 Experian Global Identity and Fraud Report. In this challenging environment, a global financial services provider sought Experian’s expertise to keep ahead of fraudsters and stay on top of the evolving digital landscape.

Experian joined forces with behavioral biometrics provider and CrossCore® partner BioCatch to deliver a layered fraud detection approach. Together, they proved that layering multiple identity and fraud detection capabilities can help authenticate legitimate customers, improve their experience and mitigate the risk of fraud. Combining consumer behavior insights, device attributes and machine learning provided optimal results, with a 73% increase in fraud detection and up to $23 million in fraud prevention savings.

“In today’s new environment, companies have no choice but to provide safe and convenient digital experiences while optimizing their operations,” said Marika Vilen, SVP Platform Commercialization, Global Identity & Fraud at Experian. “At Experian, we know there’s no silver bullet when it comes to fighting fraud, that is why we continue to develop our curated partner ecosystem and took this opportunity to demonstrate how a layered approach makes a significant impact.”

“We are excited about the success that has been achieved through our support of the anti-fraud efforts of Experian, a company that shares our commitment to innovation in fraud prevention and dedication to customer experience,” said BioCatch founder Avi Turgeman. “Layering BioCatch behavioral biometrics on top of Experian’s own capabilities adds a powerful frictionless dimension of intelligence to Experian’s digital identity offerings and further enables organizations to react quickly to changing usage patterns and emerging risk.”

BioCatch is part of Experian’s CrossCore partner ecosystem. Our flagship identity and fraud prevention platform combines advanced analytics, rich data assets, identity insights and fraud prevention capabilities. Businesses can connect any new or existing tools and systems in one place, whether it be Experian’s, our partners’ or their own. With its built-in strategy design and enhanced workflow, fraud and compliance teams have more control to quickly adjust strategies based on evolving threats and business needs, which helps to improve efficiency and reduce operational costs.

To date, CrossCore is being used by more than 250 clients worldwide. Experian fraud and identity services are available through the CrossCore platform.

About Experian

Experian is the world’s leading global information services company. During life’s big moments — from buying a home or a car to sending a child to college to growing a business by connecting with new customers — we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organizations to prevent identity fraud and crime.

We have 17,800 people operating across 45 countries, and every day we’re investing in new technologies, talented people and innovation to help all our clients maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

Learn more at www.experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group.

About BioCatch

BioCatch pioneered behavioral biometrics, which analyzes an online user’s physical and cognitive digital behavior to protect users and their assets, all the while protecting user privacy. Today, customers around the globe leverage BioCatch’s unique insights to more effectively fight fraud, drive digital transformation and accelerate business growth. With nearly a decade of data, over 50 global patents and unparalleled experience analyzing online behavior, BioCatch is the leader in behavioral biometrics. For more information, please visit www.biocatch.com.

Experian and the Experian trademarks used herein are trademarks or registered trademarks of Experian and its affiliates. Other product and company names mentioned herein are the property of their respective owners.

_____________________________

[1] BioCatch research shows that, since the beginning of the Covid-19 pandemic, they have seen a surge of fraud attempts across its global customer base. Account Opening fraud attempts have increased 33% and Account Takeover attempts have spiked 47%.


© Business Wire 2020
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Financials (USD)
Sales 2021 5 243 M - -
Net income 2021 786 M - -
Net Debt 2021 3 752 M - -
P/E ratio 2021 38,7x
Yield 2021 1,29%
Capitalization 33 280 M 33 259 M -
EV / Sales 2021 7,06x
EV / Sales 2022 6,48x
Nbr of Employees 17 800
Free-Float 93,8%
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Number of Analysts 18
Average target price 39,89 $
Last Close Price 36,44 $
Spread / Highest target 32,9%
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Spread / Lowest Target -31,2%
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Brian Jude Cassin Chief Executive Officer & Executive Director
Michael John Rogers Chairman
Kerry L. Williams Chief Operating Officer & Director
Lloyd Mark Pitchford Chief Financial Officer & Director
Barry J. Libenson Chief Information Officer
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