CBA is beefing up its fraud detection skills by incorporating more behavioural biometrics into its security features, such as client computer settings and recognising individual behaviour.
The behavioural biometrics elements are intended to improve the large bank’s digital fraud detection capabilities in real time.
CBA CEO Matt Comyn stated earlier this month at the Australia-Israel Chamber of Commerce that “from next month we will be starting to include behavioural biometrics into our fraud detection.”
“Behavior biometrics can include information such as how your computer is configured, what devices you use, and patterns you use — even keystrokes.”
“All of information will be loaded into our fraud detection engine to aid in the discovery of abnormalities and the protection of clients.”
“Through all of our efforts, we envision the CommBank app as the trusted centre of our customers’ financial life – and we will continue to add greater ease, value, and security to really empower our customers,” Comyn stated.
CBA will begin analysing users’ device behaviour to assist establish whether a conversation is from a legitimate client.
This feature is intended to add to the slew of risk identifiers used to scrutinise all transactions and activities in order to avoid and detect fraud and scam efforts.
The fraud detection engine at CBA is controlled by the bank’s security fraud section.