Can Neuroscience Be Used to Detect Fraud? Eller Faculty’s Startup Says Yes
Nov. 1, 2019
Neuro-ID, a technology startup created in 2014 by Eller Professor of Management Information Systems Joseph Valacich, has been featured in a recent PaymentsSource story on fraud detection by banks.
Neuro-ID works on the premise that “the best way to thwart the growing number of fakers applying for payment cards, loans or merchant accounts online is to fully understand their bad behavior,” according to the article. The startup has developed a tool that is deployed within the bank’s fraud detection system, providing a real-time score of the authenticity of an applicant. “Any type of hesitancy, frustration, answer switching or other actions not common in a good applicant gives the banks reason to pause before approving an application,” the article states.
Valacich, who has taught management information systems and cybersecurity at the Eller College since 2011, is a fellow of the Association for Information Systems and co-founder, chairman and chief science officer of Neuro-ID. He is a prolific scholar in the areas of deception and fraud detection, human-computer interaction, cybersecurity and technology-mediated group decision making.
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