Sionic and Revelock join forces to help banks and financial services providers fight fraud

Our new partnership promotes an active defence approach to protecting financial institutions from online fraud attacks

Sionic has announced a new partnership with Revelock, a pioneer in behavioural biometric based online fraud prevention, to help banks and financial services providers around the world take a more proactive approach to detecting and responding to fraud. Sionic will offer Revelock’s ‘Fraud Detection and Response (FDR) Platform’ as part of its extensive portfolio of leading anti-fraud solutions that together protect clients and their customers from constantly evolving and expanding fraud attacks.

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Originally founded in 1994 and comprising more than 300 industry practitioners located across the globe, Sionic specialises in providing independent advice and professional services to banks and other financial services providers. Sionic’s Financial Crime & Compliance team focus on identifying and supporting the implementation of best-in-class solutions to help its clients protect their infrastructures from attack.

Whereas online fraud prevention has traditionally focused on identifying typical bad actors, Revelock’s solution works by leveraging advanced behavioural biometrics and hybrid-AI to create a BionicID for each user. This works like a digital fingerprint, enabling financial institutions to know every user at a granular level and detect anomalies created by any threat vector that may be used to take over accounts. The platform also provides an ‘Active Defense’ through configurable automated responses to fraud. Together, these capabilities enhance organisations’ ability to accurately spot bad actors and proactively protect legitimate users against identity impersonation and manipulation threats, all without adding friction to the customer journey.

Gareth Evans, head of Sionic’s specialist anti-fraud team comments:

“We are constantly reviewing the latest innovations in the fraud prevention space to ensure our clients are in the best possible position to tackle the rising tide of fraud. Revelock’s ability to detect and then pre-emptively block and respond to fraud attempts makes it a crucial addition to our fraud prevention portfolio. We’re excited about how this partnership will deliver key benefits to our clients, such as cutting losses incurred by fraud and reducing the workloads of their fraud teams.”

Pablo de la Riva Ferrezuelo, CEO at Revelock adds:

“We’re delighted to partner with Sionic to make our technology more easily accessible to its world-renowned clients. Their expertise – so often gained through time on the frontlines facing the very attacks we are working to block – will be invaluable to us in our efforts to help financial services advance in the fight against online fraud.”

Notes to Editors

Revelock enables financial services and fintech companies to reveal and respond to online identity impersonation & manipulation attacks without hindering the customer experience. The Revelock Fraud Detection & Response Platform combines behavioural biometrics, advanced malware detection, network and device assessment with hybrid AI models including Deep Learning, to create and continuously analyse the BionicID™ and Know Your User (KYU), spot bad actors and mitigate risk regardless of the type of attack. From new account creation and login to logout, across every interaction, Revelock provides an all-in-one solution that non-intrusively detects behavioural and environmental anomalies while protecting customers from RATs, zero-day malware, bots and social engineering attacks. Revelock’s Active Defence approach gives Fraud Fusion Centre analysts full control over automated risk mitigation and Revelock Pre-emptive Defense capabilities enable analysts to use Revelock Hunter to discover and disrupt mule networks.

Revelock™ Solutions for preventing Account Take Over (ATO), New Account Fraud (NAF), behavioural biometric risk assessment and transparent stepped-up authentication (CNP, MFA, PSD2), today protect more than 35 million banking customers worldwide.

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Meet the expert

With over 20 years’ experience, I am a fraud specialist equipped with the skills to protect financial institutions, banks and their customers from attack