APO Hero
Acquire new customers, not fraud

Account Opening Protection from BioCatch analyzes the data and interactions on a new application to determine if the  request is genuine or fraudulent. This process reduces friction for true customers and protects you from fraud and reputational losses.

Request a briefing

Protect against false or stolen identities

Financial Institutions must be able to determine when a genuine applicant is opening a new account, or a cybercriminal is using stolen credentials to gain access to funds. While challenging enough, this analysis needs to be performed while providing a frictionless experience to genuine applicants or they will abandon the process, creating lost revenue opportunities. With the onslaught of different tactics like bots and identity theft, these challenges continue to grow in volume and complexity.

Learn More

The scale of the Account Opening problem

52 %

New account fraud happens at the same financial institution as the victim’s genuine account

85 %

Financial institutions that experience fraud in the account opening process

50 %

New deposit account applications being opened by bots

$ 3.2 B

AO fraud losses in 2022 according to Javelin Strategy

Explore BioCatch Connect

Application fluency

Cybercriminals are familiar with the application form. They navigate the website quickly to fill out mandatory fields without thought.


Expert user patterns

Cybercriminals display advanced computer skills, using control shortcuts such as tabs between fields and function keys.


Low data familiarity

Cybercriminals will not be familiar with customer-unique data, and the cadence for data entry will not match.


Bot activity detection

Cybercriminals will oftentimes use bots to speed the application process; however, bots cannot replicate human behavior.


Age analysis

Cybercriminals cannot easily adapt to a typing cadence and pattern that aligns with a customer’s age.


Account opening fraud
in the time of
digital banking

Digital banking account opening introduces a significant amount of risk to financial institutions and to those whose identities have been stolen. The challenge is creating an application process with little friction to genuine applications but with enough intelligence to stop fraudulent account creation. The right approach protects customers and takes advantage of digital banking growth.

BioCatch’s solution for Account Opening Protection layers data analysis, behavioral intelligence, and historical session data to manage risk across digital channels, limit financial losses, and maintain consumer confidence.

View Solution Brief
Rectangle 2890
Additional account opening
use cases

Identity theft fraud

Identity theft causes significant financial losses and damages customer trust. The rise in digital transactions amplifies these risks significantly. Prioritizing fraud protection measures, including behavioral intelligence, is paramount to protecting customer assets and confidence while maintaining the organization's reputation. 

Learn More  >

Automated software (bot) fraud

Bot financial fraud poses significant risks to both individuals and organizations, including financial loss, damage to reputation, and potential legal complications. Preventing it requires strong fraud protection capabilities that go beyond credential, device, and network analysis. 

Learn More  >

Request an intelligence briefing

Join us for a 30-minute deep dive with a BioCatch expert to learn the latest tactics, techniques, and procedures (TTPs) fraudsters use to scam your customers and harm your brand.

Request a Briefing