Protecting a company’s information against bots, fraud or hacking is an everyday task. Neuro-ID is commercializing software that can identify suspicious behaviors based on a computer or smartphone user’s typing, touch, scrolling or mouse movements.
“Neuro ID provides customized solutions for our clients on a case-by-case basis,” Neuro-ID SVP of Business Development Rod Dunmyre said. “We use our technology and expertise to help clients in variety of market segments including financial services, insurance, healthcare, public sector, retail and others.”
For example, Neuro-ID manages risk by identifying fraud and deception when companies send out online forms and questionnaires to customers.
The approach lets the data do the talking and provides a common approach for analyzing every field of any type of online form, according to Dr. Joe Valacich, the UofA professor whose research Neuro-ID was based on.
The results are “scored instantly” and can scale any number of users, according to Dr. Valacich. “No technology can definitively detect a lie, but our technology is really good at detecting highly suspicious responses,” he said.
Neuro-ID licensed the technology from the UofA with the help of Tech Launch Arizona.
The company is only servicing business clients at this time.
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“Our solutions are easy to deploy and we charge both a one time setup fee and monthly usage fees which vary depending on the specific needs and applications of the client,” Dunmyre said.
The company will be hiring additional technically and business development employees in the first quarter of 2016, according to Dunmyre. Most positions will be based in Tucson.
Neuro-ID is currently funded by angel investors, but will be seeking a small round of additional funding in the future. The idea for the product began in January 2012 and the first product, Neuro Screen, went to market in June 2015.
“Given our capabilities and the unique problems we solve for clients, our goal is have Neuro-ID solutions widely used by the industries we serve to improve their decision making and improve their financial bottom lines.” Dunmyre said.
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Logo and photo courtesy of Neuro-ID
