Explaining that it is unlike the Social Graph popularised by Facebook, which represents relationships between known individuals and is primarily used to better target media,’ ThreatMetrix says it has ‘developed the graph framework for anonymised global digital identities on the internet to fight cybercrime.’
So, what is the Digital Identity Graph?
ThreatMetrix says its new graph ‘maps the complex and ever-changing associations among people and their communication devices, account credentials, telephone numbers, physical addresses and the businesses with which they interact.’
Using the underlying graph framework, ThreatMetrix claims it can ‘define digital persona relationships on a global scale, enabling businesses to identify fraud and cyberattacks with real-time speed and precision without compromising privacy.’
Confident of a genuinely impressive breakthrough, ThreatMetrix explains that its ‘Digital Identity Graph framework is a data science and engineering achievement with multiple far-reaching applications,’ with the company anticipating ‘that these concepts will be adopted broadly and yield enduring value for the security and fraud prevention industry as a whole.’
Here is the company’s 2-minute explainer video - the article continues below, please read on!
Armen Najarian, ThreatMetrix’s chief marketing officer said: “Establishing authentication in today’s global and digital economy is incredibly complex – ask anyone working in fraud prevention, enterprise information technology, or even the front lines of small businesses all over the world.
“We believe that our achievements mapping the Digital Identity Graph will pave the way for broad industry adoption and aid in solving unique authentication challenges confronting the public and private sectors.”
ThreatMetrix explains that ‘today, the Digital Identity Graph is the underlying fabric that powers global shared intelligence through the ThreatMetrix Digital Identity Network,’ and that the company ‘applies machine learning, behavioural analytics and other advanced techniques on top of the graph across 2 billion monthly transactions serving 4,000 customers globally.’
Through this, ‘the graph is strengthened with every transaction through the ThreatMetrix network, mapping the relationships of digital identities across the globe.’
Andreas Baumhof, ThreatMetrix’s chief technology officer said: “The Digital Identity Graph allows us to leapfrog established authentication procedures that are widely known in the analog world.
“For example, the traditional credit bureau model of authentication based on knowing a name, physical address or social security number is rapidly becoming outdated and irrelevant. This static information is already known to fraudsters due to numerous data breaches.
“The power of the graph is knowing when your information is used out of context – without even needing to know who you are. In milliseconds, we can differentiate between a cyber attack and a trusted user without compromising privacy.”
Article continues below, please read on!
I also sought comment from Ted Egan, ThreatMetrix’s Asia Pacific VP, who said: “Traditional forms of authenticating identities or payment transactions were not keeping pace with the ever-evolving and increasingly sophisticated and complex digital world.
“This often meant online businesses were left with increasingly successful online attacks against their business, chargebacks and overwhelming false positive rates when dealing with customers online.
“That said, this is why our team at ThreatMetrix has worked closely with our customers to develop and launch the Digital Identity Graph which provides and ensures our customers have access to the most accurate and concise data in real-time when they validate, verify and most importantly authenticate ‘Good Digital Identities vs. Compromised or Bad Digital Identities.’
“The ‘Compromised or Bad Digital Identities’ are otherwise known as ‘cybercriminals and fraudsters in the fast evolving pace of the complex digital world’, as my colleague and ThreatMetrix chief technology officer Andreas Baumhof mentions, as this allows our customers to leapfrog established authentication procedures that are widely known in the analog world.”
Recent and previous ThreatMetrix articles at iTWire include an early February 2016 article on the 'ThreatMetrix Cybercrime Report: 300+ million cyberattacks stopped in real time.’
There is also the December 2015 article entitled: “ThreatMetrix Cybercrime Predictions 2016: Year of the Digital Identity.”
November 2015 saw an article entitled: “VIDEO: ThreatMetrix prevents 90 million cyber attacks across industries in Q3 2015.”
August 2015 had an article entitled: “ThreatMetrix sees Q2 2015 increase in mobile transaction and online lending fraud.”
Finally, while there are many earlier articles on ThreatMetrix at iTWire, the last one I’ll point to is February 2015’s article on “Video: ThreatMetrix’s 6 cybercrime predictions for 2015,” which also features a video interview with ThreatMetrix President and CEO, Reed Taussig.