Online shopping has "seesawed during the pandemic, with increases in February followed by a 7.5 percent decline in overall spend in March"—however, it appears that fraudsters have not suffered in the same way and this raises concerns about e-commerce security both during and after the pandemic. The customer onboarding experience is of key focus here and the aim is to not only streamline the experience but to make it more secure, as well.
Biometrics seems to be a viable option for this problem. BioCatch—a startup that provides secure e-commerce solutions—raised $145 million in mid-April to update its "behavioral biometrics capabilities." The company employs artificial intelligence to verify the geolocation or keystrokes of new customers and it also has the capacity to "analyze and legitimize voiceprints or fingerprints."
Image Credit: BioCatch