System and method of identifying new devices during a user's interaction with banking services

A system for identifying a new device during a user's interaction with online services, comprising:

• an online server providing online services;
• a collection module, coupled to the online server, executed on a hardware processor, the collection module configured to collect a fingerprint for a device associated with a user accessing the online services;
• and
• an analysis module, coupled to the online server and the collection module, executing on the hardware processor, the analysis module configured to:
• isolate, from the fingerprint, one or more key characteristics of the device which affect device security;
• perform clustering of previously known devices used by the user based on the one or more key characteristics;
• compute a difference between the one or more key characteristics of the device and one or more key characteristics of one or more devices which the user previously used to access the online services, wherein the one or more devices are from among the clustering of previously known devices;
• and
• determine that the device is a new device used by the user to access the online services when the difference exceeds a threshold value.

A non-transitory computer-readable medium storing thereon instructions that when executed by a hardware processor perform a method for identifying a new device during a user's interaction with online services, the method comprising:

• collecting a fingerprint for a device associated with a user;
• isolating, from the fingerprint, one or more key characteristics of the device which affect device security;
• performing clustering of previously known devices used by the user based on the one or more key characteristics;
• computing a difference between the one or more key characteristics of the new device and one or more key characteristics of one or more devices which the user previously used to access an online service, wherein the one or more devices are from among the clustering of previously known devices;
• and
• determining that the device is a new device used by the user when the difference exceeds a threshold value.