Customer experience is the hallmark of growing revenue in digital channels. However, that revenue can be threatened by losses sustained from new account fraud, account takeover and other cyber threats. As the volume of digital transactions surges, fraud and risk management leaders are tasked with building trust across a broad range of use cases, managing risk across digital channels, and limiting financial losses from cybercrime.
Organizations are suffering from fraud losses due to sophisticated cyber threats while struggling to provide the right level of security and customer friction. BioCatch, the market leader in behavioral biometrics, helps financial institutions and digital businesses build an online environment where customers feel safe to interact.
BioCatch analyzes physical and cognitive digital behavior to distinguish between genuine users and criminals to detect fraud and identity theft and to improve customer experience. This is accomplished by profiling behaviors such as mouse movements, typing cadence, swipe patterns or device orientation. The activity is then compared against the historical user profile for the individual account to provide a passive authentication layer and against population level patterns to identify statistically observed norms for “good” and “bad” behavior.
By applying behavioral biometric analysis to all activities throughout a session BioCatch can identify when it’s not a legitimate user performing an activity, such as a login, payment or account opening, detecting human and non-human attacks such as bot activity, Trojans, and other modes of operation. The BioCatch platform can detect indicators of abnormal activity, leveraging innovative technology that is powered by machine learning and takes into account user physical behavior traits and cognitive decisions.
The BioCatch platform provides visibility into risk and empowers fraud leaders to detect fraud and determine the appropriate action. By delivering behavioral insights through a risk score and a wide array of risk indicators we well as a set of tools to investigate session activity and set action policies. Today, leading financial institutions around the globe leverage BioCatch’s unique approach and insights to more effectively fight fraud, drive digital transformation and accelerate business growth.