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First Look: Neuro-ID

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Neuro-ID TM started about 7 years ago with the premise that by monitoring how people use their keyboards and mice one could identify the confidence level of the person filling out the form. And that this could be done without any personally identifiable information. They developed a Neuro Confidence ScoreTM  (Neuro-CS TM) which they have patented. Their focus is on the questions companies ask of their customers. Many of these questions are risk-related – they are asked to help the business establish how risky someone or something is – and companies lack confidence in the answers they get.  Neuro-ID likes to say “Smarter Questions, Better Bottom Line TM”.

There is an inherent tension in how organizations design surveys or online forms. Making an online form “frictionless” is a good objective as it makes it more likely people will fill it out. But it is hard to do this if one is also concerned about compliance. A focus on compliance can lead organizations to ask for too much detail and so create friction while a frictionless experience can easily fail to check on someone.

Neuro-ID’s technology delivers prescriptive analytics that score someone’s behavior in terms of the confidence with which those questions are answered (as well as some supporting attributes). As an example, consider declarations in financial applications. The technology monitors the session to see how people answer, how they move their mouse, what options they pick, which things they change. A baseline is created for each person as they interact and subsequent actions are compared to assess their confidence. The confidence of their movements reflects whether they are concealing something or don’t understand the question or are just not sure what the right answer is.

The technology sits behind existing forms and does not collect any personal information or PII. Because it compares the user to themselves, a lack of language skills or poor eyesight does not impact the score. Forms can add baseline questions before asking risk-related questions or can treat all questions as both baseline and risk relevant questions. It also detects meaningful edits, allowing it to ask questions like “did you overstate your income”. Experience is that this often triggers better behavior.

The technology generates a confidence level on each question. It has an interactive mode allowing loan officers or others to replay the interaction and everything is available programmatically through an API. A decision id is used at the Neuro-ID end that the company has to match to a particular applicant, allowing the technology to store detailed records without knowing how someone is. While mouse and keyboard are the most common environment, the technology also handles touch screens by assessing hesitations and changes.

Neuro-ID can be used for risk mitigation, fraud prevention or user experience design depending on the situation. An initial target are traditional banks and FIs working in the Prime segment. These organizations need a clean, quick online onboarding process that is self-directed yet does not expose them to unnecessary risk. It’s also effective with credit-invisible customers as it can send additional questions to check for third party verification when confidence is low.

A really interesting technology in my opinion. You can find more at www.neuro-id.com.

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