Smart Eye Technology, a leader in biometric security and continuous authentication solutions, has partnered with Finov8r, an advisory firm specializing in financial technology innovation, to bring cutting-edge fraud prevention solutions to U.S.-based community banks.
Revolutionizing Fraud Prevention in Banking
The banking industry faces unprecedented levels of fraud, often costing institutions six to seven figures in annual losses. Many of these attacks stem from social engineering tactics that exploit traditional security measures such as passwords and two-factor authentication. Smart Eye Technology’s biometric authentication product provides continuous user verification, ensuring secure digital transactions while eliminating risks associated with credential theft and session hijacking.
“Community banks are in need of effective fraud prevention solutions,” said Allan Rayson, Finov8r. “By integrating Smart Eye’s technology, we’re introducing a highly secure authentication method that will protect banks and their customers from unauthorized transactions.”
How Smart Eye’s Technology Works
Smart Eye Technology uses continuous facial recognition and multi-biometric security to authenticate users throughout their banking sessions. The technology is designed to serve two primary use cases:
Bank Clients – Smart Eye enhances security for employees of banking clients accessing digital banking platforms, particularly for high-risk transactions like wire transfers, ACH payments and Zelle transactions.
Bank Associates – Community banks can implement Smart Eye’s biometric authentication on internal devices, ensuring secure access for employees using bank-issued hardware.
“The Smart Eye product is a game-changer for banks looking to enhance their security posture,” said Dexter Caffey, Smart Eye Technology. “We are excited to work with Finov8r to bring this advanced fraud prevention solution to community banks nationwide.”
