Fraudology Podcast with Karisse Hendrick

Planting "Tripwires" & "Landmines" using Behavioral Biometrics w/ Matt Vega @Novo.co

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Nov 28, 2023

Matt Vega, the Director of Fraud Strategy at Novo.co with a rich history in fraud prevention at companies like Instacart, shares his expertise in behavioral biometrics. He discusses the pivotal role of 'tripwires' and 'landmines' in identifying unusual user behavior while minimizing friction in user experience. The conversation highlights the importance of forming strong partnerships with vendors, keeping up with technological advancements, and adapting strategies for different business models. This episode is a treasure trove of insights for anyone navigating the evolving landscape of fraud prevention.

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ADVICE

Tripwires and Landmines

Lay tripwires and landmines throughout the user journey.
These get triggered by high-risk user activity and behaviors.

INSIGHT

Good vs. Bad User Behavior

Knowing good user behavior is more important than knowing bad user behavior.
Study user journeys to understand normal behavior and look for anomalies.

ANECDOTE

Friendly Fraud and Behavior

Matt Vega discusses how behavioral biometrics can help identify friendly fraud.
By understanding normal user behavior, businesses can quickly spot inconsistencies in fraud claims.

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In this episode of Fraudology, host Karisse Hendrick welcomes Matt Vega, the seasoned Director of Fraud Strategy at SMB Financial Services company, Novo Co. With years spent navigating the complex landscape of fraud prevention for prestigious companies like Instacart and Fanatics Digital, Matt provides intriguing insights into effective fraud strategy that will continue to adapt & scale as needed.

Karisse & Matt delve into the importance of understanding good customer behavior and user journeys in order to detect anomalies, and the significant role behavioral biometrics play in this process. They also discuss their experiences with fraud vendors, emphasizing the critical need for creating partnerships, understanding the people & the business you partner with, and the need for businesses to possess strong redundancies and failover systems.

Listen in for an enlightening discussion on Matt's strategy development journey, experiences with Sardine, and thoughts on the future of fraud prevention.

Previous episodes with Matt Vega:

January 2021: From Military Intelligence to Fighting Fraud at Instacart:

https://fraudology-podcast.captivate.fm/episode/episode-16-from-military-intelligence-to-anti-fraud-leader-with-matt-vega-at-instacart

Feb. 2022: NFT Fraud Fighting & Working With MLB:

https://open.spotify.com/episode/7Jk1btDFdProD3tJ4YlLEl?si=81e37ccec7964e62

Feb. 2023: Building a Fraud Strategy for a Complex Business model (also w/ Sidharth Shah):

https://open.spotify.com/episode/1YbaKFEasHV9iPh9i4Tch2?si=3285fae4f458463a

Feb. 2023: Identifying Fraud Before it Happens (also w/ Sidharth Shah):

https://open.spotify.com/episode/2ksLgUvUimf1wmYZ8HLTkh?si=6754e6e281df4701

Fraudology is hosted by Karisse Hendrick, a fraud fighter with decades of experience advising hundreds of the biggest ecommerce companies in the world on fraud, chargebacks, and other forms of abuse impacting a company's bottom line.

Connect with her on LinkedIn

She brings her experience, expertise, and extensive network of experts to this podcast weekly, on Tuesdays.