Interview with Neil Costigan, CEO of behavioural biometrics firm @ BehavioSec. In security, the human is the weakest link. BehavioSec make it the strongest. Multilayered Biometric Security for Web, Mobile and Desktop. We met Neil Costigan along with Trustev’s Pat Phelan, on several panels moderated by Irish Tech News at the the MoneyConf Belfast Websummit.
— BehavioSec (@BehavioSec) August 11, 2014
What does BehavioSec do?
BehavioSec is disrupting the verification and authentication industry with the belief that consumers should be part of the security solution, rather than the problem. The technology moves beyond static biometrics (e.g. fingerprint), which authenticate at ‘point of entry’, to use of machine learning algorithms, which sit in the background of a website or app to build up a profile of the user. These data points include the way in which they interact with their device, such as their typing speed, or the angle they use to swipe their touchscreen. This makes authentication an inherent part of the user experience, rather than calling out as an explicit step, to streamline the process for the consumer. Their technology has already been widely deployed in the Nordics, and now protects nearly every internet banking user in Norway, Denmark and Sweden (approximately 10 million people). It is now in trial with a major UK high street bank and was recently listed as one of the Fast Company’s ‘Top 10 Most Innovative Companies of 2015 in Money’.
How did you find Northern Ireland?
I really enjoyed Northern Ireland and Ulster was fantastic. I took advantage of the trip to see Belfast & the North Antrim coast for the first time. I found the coast stunningly beautiful and unspoilt to an extent that it was overwhelming. Belfast was a really nice to wander particularly the cathedral quarter and I discovered an amazing charcoal grill restaurant with some of the best cocktail makers I have ever encountered.
How did you find MoneyConf? Highlights?
I loved the format and it is a like a mirror of the Web Summit which I find very effective. A personal highlight was Stuart Haire from Royal Bank of Scotland and it was fantastic to hear more about their strategic innovation and how they are collaborating with new entrants such as ourselves.
Any collaborations with Trustev?
Yes, as a company we provide complementary layers to an overall risk based security solution. We have down a proof of concept to demonstrate our product to our core client base and we have a couple of prospects who are keen to see more. In addition, Pat Phelan @ Trustev’s CEO has been exceptionally generous with his time as an advisor.
Is the password dead, what is your final answer?
The password is not dead, instead in the future the password will become less intrusive and won’t interrupt the customer user experience. Frictionless security technologies like BehavioSec will remove the pain of password management, so I suspect that consumers will still have pins and passwords for some time to come.
— BehavioSec (@BehavioSec) February 12, 2014
What’s next for BehavioSec?
On the back of our success in securing online banking in Northern Europe, we intend on expanding our offering to cover mobile to mobile payments.