buguroo: Securing Transactions through Advanced Threat Intelligence

With the growing adoption of online financial transactions, every individual is now a potential target of cyberfraud. For banks, rampant increase in cyberattacks has put forth new challenges of not only monitoring and ensuring the legitimacy of each transaction, but also the individuals carrying out the transaction. Having the vision to protect financial institutions from the increasingly sophisticated cyberthreats, buguroo provides robust and flexible next generation solutions to enable trusted users to carry out financial transactions securely. Following a two-step authentication process, buguroo verifies the user and the transaction session by tracking users’ behavior and device properties and building a behavioral profile in real time.

Moving beyond building a generic profile of the bank’s customers, buguroo takes a nuanced approach in customer authentication. The company focuses on detecting fraud in the online banking sessions through ‘bugFraud Defense’— the proprietary engine that gathers data at every stage of the transaction and analyzes the users’ behavior throughout the session. The company then leverages the deep learning algorithms and cognitive analytics to predict and prevent fraud such as phishing, malware, webinjects, and form-grabbers. bugFraud Defense gathers human biometric patterns such as mouse acceleration and keyboard velocity to identity the variance in the accepted user behavior and identifies fraudsters or bots trying to impersonate legitimate users. The company also takes into account data from mobile sensors such as accelerator and gyroscope while building the profile of a bank’s customer.

The real-time profiling of users guarantees the legitimacy and precision of the user profiles. The firm prevents cyber fraud by creating a profile based on six parameters—devices, networks, content, omni-channel, biometrics, and threat intelligence. Pablo de la Riva, founder of buguroo says, “With biometrics, artificial intelligence, and advanced neural networks, we learn what makes a user, human.” The company’s solutions can detect the exact time of a fraud or a compromise in any particular session by valuating device risk, geolocation data, user’s patterns, and fraud intelligence data.