Resource Center

Data Sheet

Policy Manager

The Policy Manager allows fraud teams to define the actions that should take place depending on the various system outputs, streamlining the implementation process and heightening the usability of the BioCatch system. Going beyond simply providing a best-of-breed risk score, the BioCatch Policy Manager offers flexibility in establishing the actions that should occur if the user behavior inside a session triggers a predefined condition. Instead of building rules based on 0-1000 ranges that have to be well-understood for a particular environment, the Policy Manager allows fraud analysts to benefit from added logic that mitigates fraud in real-time, simplifies back-end operations and assists with gathering data for proactive, investigative analysis.

DOWNLOAD Data Sheet

Webinar

Combating New Account Fraud With Behavioral Biometrics

New account fraud continues to grow at a rapid pace, threatening new digital banking business models and fintech platforms such as Zelle, that are in a customer acquisition race. Convenience, speed and ease of use make digital the preferred channel for consumers, but also open the door for criminals. With 14.7 billion personal records stolen in the last 6 years and the proliferation of synthetic identities making it very difficult to tell the difference between a legitimate applicant and one that will result in loss, new models for identity verification are starting to emerge, with behavioral biometrics as a key component.

DOWNLOAD Webinar

Case Study

Corporate Banking Fraud Detection - 2 Case Studies

Two global financial enterprises providing corporate online banking services had very different issues. The Treasury arm of a top-5 U.S. bank was looking to tighten controls in preparation for Faster Payments, while a Top 5 corporate U.K. bank was looking for a way to address a devastating cyberattack involving advanced malware, remote access and social engineering.

DOWNLOAD Case Study

Webinar

OUT WITH KBA; IN WITH NEW DIGITAL IDENTITY GUIDELINES FOR THE US GOVERNMENT AND BEYOND - A Debrief of the Latest GAO Report

The newest report issued by the U.S. General Accounting Office (GAO), Federal Agencies Need to Strengthen Online Identity Verification Processes, calls for an overhaul and updated guidelines on identity proofing, highlighting the availability of data stolen in various data breaches over the years in the hands of attackers and fraudsters. Already, the National Institute of Standards and Technology (NIST) has issued guidance in 2017 that effectively prohibits agencies from using Knowledge-Based Authentication (KBA) methods for sensitive applications. Now, the GAO is going one step further, recommending that all agencies discontinue the use of KBA and highlights various alternatives for consideration. The outcome may have far-reaching implications not just for federal agencies but across the board for all private entities that conduct identity verification and authentication to provide digital products and services.

DOWNLOAD Webinar

Webinar

Understanding Your Client’s Digital Identity

Identity is everything on the internet. Every authentication hurdle online users need to jump through, such as two-factor authentication and passwords, is aimed at one goal – verifying the identity of the user. Digital identity has never been as important as it is now and will only continue to grow in importance as digital transformation takes hold.

DOWNLOAD Webinar

Case Study

Digital Bank Onboarding Fraud Detection Case Study

As banks evolve to compete in a digital-only world, their top priority is how to gain market share as fast as possible by offering special incentives and making the onboarding process as easy as possible. However, by definition, opening a bank account online is an intricate process, but streamlining it and making it as user friendly as possible, is the key to success.

DOWNLOAD Case Study

Webinar

One-time Passwords: What are the Alternatives?

One-time passwords (OTP) remain one of the most widely used forms of two-factor authentication, despite their well-documented vulnerabilities. Earlier this year, a major UK bank was hit by an attack in which fraudsters diverted text messages from legitimate customers’ phones in order to bypass two-factor authentication and access accounts.

DOWNLOAD Webinar

Case Study

Transform Business Processes in Financial Services with AI

With 55 percent of millennials stating that difficulties in resolving problems with their bank are frustrating enough to make them leave and traditional fraud detection measures yielding 30–50 percent false alarm rates,1 BioCatch knew they had to play squarely into next-generation banking approaches to improve business outcomes.

DOWNLOAD Case Study

Data Sheet

Using Behavioural Biometrics to Combat Vishing and APP Fraud

According to a recent UK Finance report, British banking customers lost £500m to fraudulent schemes in the first half of 2018 alone, the majority of which came from “unauthorised fraud” (i.e., hacking of user accounts.) During these six months, there were 3,866 confirmed cases of vishing (“authorised fraud” or “impersonation”) in the UK, with the scams leading to £36.6M in losses, for an average loss in excess of £9,000 per person.
The problem is most acute in the UK but is not limited to that country. These types of scams are on the rise everywhere. The European Commission has revealed that it is looking into ways to address this vexing challenge. In the U.S., the Federal Trade Commission has reported that 77% of its fraud complaints involve contacts by telephone, of which vishing is a subset. Most recently, the Australian Taxation Office has issued a warning on the rise of this threat.

DOWNLOAD Data Sheet

White Paper

Behavioural Biometrics in a PSD2 World

The financial services industry is in the midst of sweeping change. Earlier this year, we saw one of the latest shifts with the introduction of the European Union’s revised Payment Services Directive (PSD2).

DOWNLOAD White Paper

Webinar

A Look at Frictionless Authentication

The paradigm for identity risk management and authentication is changing. In the new paradigm, context and data available for a specific type of interaction must drive analytics. Instead of just looking for commonality, we need to make better use of data that is unique.

DOWNLOAD Webinar

Data Sheet

Something You Have vs. Something You Are: Differences Between Device Recognition and Behavioral Biometrics

The ongoing cat-and-mouse game between fraudsters and security experts has generated a variety of methods to prevent identity theft and ease the authentication process. Behavioral biometrics upends the paradigm, profiling and analyzing user behavior as opposed to what they have or what they know. These are the main differences between device recognition methods (something you have) and behavioral biometrics (something you are).

DOWNLOAD Data Sheet

Webinar

What Keeps a Bank's CFO Up at Night - The True Cost of Cyber Fraud To Your Business

Fraudsters are ever-evolving and constantly discovering new methods of stealing money from institutions worldwide. The drive to digital transformation is providing new opportunities for fraudsters to exploit businesses and consumers remotely. The losses from cybercrime continue to rise year-after-year with the number of cyber incidents targeting businesses nearly doubling between 2016 and 2017 according to the Online Trust Alliance. 2018 is not showing any reduction in these trends.

DOWNLOAD Webinar

Data Sheet

BioCatch Analyst Station

The BioCatch Analyst Station is a web-based interface that displays the data for one or many sessions and provides summary reports. The portal enables the customer to easily detect and act upon possible fraudulent activity in user accounts. The BioCatch Analyst Station is used for post-session data analysis, typically at the end of each day or whenever required by the administrator.

DOWNLOAD Data Sheet

Data Sheet

Protecting Payroll Systems From Account Takeovers

Payroll systems are the life line of any company or organization. Typically, these systems assemble critical financial functions such as salaries, tax deductions, benefits, business-to-business payments, supplier bills and tax returns.

DOWNLOAD Data Sheet

Data Sheet

Behavioral Biometrics in a P2P World

In recent years, Peer to Peer payments have shown a significant increase, passing the $120 billion mark (2017). Currently, one in three American consumers uses P2P apps to make instant payments to friends, relatives, service providers, or anyone they owe money. Since P2P account opening does not require identity verification, it is vulnerable to various types of fraud and threats including malware, social engineering, remote access, SIM swapping, call forwarding and other techniques. Using these techniques, the fraudsters are able to exploit two main points of failure:

DOWNLOAD Data Sheet

Case Study

A Top-5 U.S. Bank Detects TrickBot Malware Attacks with BioCatch’s Behavioral Biometrics Solution

Malware infections and Remote Access Trojan (RAT) attacks are on the rise, enabling cyber criminals to take over accounts from afar and automate fraud. Despite traditional fraud detection measures and cybersecurity safeguards, malware and RAT attacks remain prevalent. Undetected malware attacks can result in direct losses to account holders and have a long-term detrimental effect on business and customer confidence.

DOWNLOAD Case Study

Webinar

The Fast and the Fraudulent

The world of payments is rapidly-changing. The rise of P2P payments in the U.S, Canada and Australia along with dramatic regulatory changes in Europe (PSD2), has created new opportunities across the ecosystem. New third-party payment providers (TPP's) in the EU and P2P apps in other regions are entering the arena by supporting the rapid rise in demand and associated adoption rates. Banks are enabling direct access to accounts via APIs. Consumers now get to pick which apps they use, how they want to pay, and when, making the user experience paramount to win their loyalty. At the same time, however, the speed and “openness” makes the ecosystem  vulnerable to several types of threats including malware, social engineering, remote access Trojans, SIM swapping, call forwarding and other techniques. Using these techniques, the fraudsters are able to exploit various points of potential weakness: at the account creation stage, the bank account linking process and payment authentication.

DOWNLOAD Webinar

Data Sheet

Behavioural Biometrics in a PSD2 World

Two major implications of PSD2 are Access to Account and Strong Customer Authentication. PSD2 also requires TPPs to meet strict criteria and maintain very low fraud rates in order to stay active in the marketplace. In many ways, these requirements upend the financial ecosystem by holding various players responsible for different aspects of the payment process. This makes it difficult for all parties involved to prevent fraud and at the same time provide customers with a positive user experience.

DOWNLOAD Data Sheet

Webinar

The Role of Applicant Behavior in Identity Proofing

As account opening continues to transition from physical to digital channels, financial institutions, issuers, lenders, and other organizations must optimize the digital experience of applicants in order to compete. At the same time, fraud is on the rise as criminals have become more successful than ever, thanks to some of the same digital channel benefits enjoyed by consumers: convenience, speed, and ease of use.

DOWNLOAD Webinar

White Paper

From Login to Logout: Continuous Authentication with Behavioral Biometrics

In recent years, a growing number of organizations have employed two-factor authentication (2FA) as a primary safeguard mechanism. They all share the notion that requiring a second security layer will be instrumental in reducing data breaches and identity theft. Two-factor authentication is based on the fundamental assumption that at least two out of three authentication factors are used in the process (“something you know, something you have, something you are”). 2FA is not a new security measure, nevertheless, it is in extensive use, despite the growing recognition that it is not so effective.

DOWNLOAD White Paper

White Paper

The Role of Applicant Behavior in Identity Proofing

As account opening continues to transition from physical to digital channels, financial institutions, issuers, lenders, and other organizations must optimize the digital experience of applicants in order to compete. At the same time, fraud is on the rise as criminals have become more successful than ever, thanks to some of the same digital channel benefits enjoyed by consumers: convenience, speed, and ease of use. To achieve the necessary balance between preventing fraud and providing a delightful experience for consumers, an approach to identity proofing that accounts for the channel, product, customer, and threat environment is absolutely critical. But regardless of the approach, inconspicuous solutions — like those based on applicant behavior — have a distinct role to play in how institutions manage the risk of application fraud.

DOWNLOAD White Paper

Data Sheet

What is Behavioral Biometrics?

Behavioral biometrics is a breakthrough cybersecurity technology that identifies people by how they do what they do, rather than by what they are (e.g., fingerprint, face), what they know (e.g. secret question, password) or what they have (e.g. token, SMS one-time code). Behavioral biometrics measures and analyzes patterns in human activities. Historically, these included keystroke patterns, gait, signature and the like. Today’s advanced behavioral biometric techniques capture an array of human interactions between a device and an application, such as hand-eye coordination, pressure, hand tremors, navigation, scrolling and other finger movements, etc.

DOWNLOAD Data Sheet

White Paper

Digital Transformation in the Insurance Sector

The widespread digitization of financial services is causing large-scale and sweeping transformations across various facets of the business, creating new growth opportunities but also new challenges and inherent risk. In the insurance sector, particularly, digital transformation is driven by new competitive threats, ongoing cost pressures, aging technology and increasing regulatory requirements. Put all together, there is a huge opportunity to modernize, to create new business models, acquire customers on new channels and create competitive and compelling customer experiences.

DOWNLOAD White Paper

Data Sheet

Mitigating the Risk of Insurance Fraud with Behavioral Biometrics

The global insurance market is a multi-trillion-dollar market worth more than $4.5 trillion in gross insurance premiums (2015). In 2016, the gross insurance in premiums in the U.S reached $2.67 trillion with $1.5 trillion in paid claims.

DOWNLOAD Data Sheet

Data Sheet

Behavioral Biometrics for Mobile Payments

Digital transformation in banking and retail is rapidly evolving. In this fast-moving environment, where finance and fraud intersect, there are several ramifications for financial institutions and the user experience.

The equation is quite simple: where there is money, there is fraud. As the use of mobile banking grows, so do the threats of hacks, malware and other remote attacks. Traditional means of detecting fraud can take considerable time and resources, sometimes taking weeks to detect or to confirm an incident.

In the digital world - whether mobile payments, e-commerce or online banking – this is much too long. Transactions happen quickly, and any delay can have significant repercussions, both from a consumer confidence perspective and a cost perspective. In the digital world, it seems there is always a choice to make between security and the user experience.

DOWNLOAD Data Sheet

White Paper

Invisible Challenges to Detect Fraud | White Paper | BioCatch

BioCatch is a cybersecurity company that delivers behavioral biometrics, analyzing human device interactions, to protect users and data. Banks and other enterprises use BioCatch to significantly reduce online fraud and protect against a variety of cyber threats, without compromising the user experience.

DOWNLOAD White Paper

White Paper

RATs & Protecting Online Banking | White Paper | BioCatch

According to multiple threat index reports issued at the end of 2018, the threat of Remote Access Trojans (RATs) is at an all time high. One RAT made Checkpoint’s Global Threat Index Top 10 list, while Proofpoint reports that the number of RATs doubled each quarter of 2018, accounting for more than 5% of all malicious payloads for the year, marking a significant change from the past.

DOWNLOAD White Paper

White Paper

Preventing Fraud in the Mobile Era | White Paper | BioCatch

As mobile devices eclipse computers and laptops as the preferred method of going online, fraudsters have followed users, porting their modus operandi –account takeover, social engineering, and malware based remote control attacks – to the mobile arena. Mobile has opened up many new ways for users to communicate and connect without being tied to a desk or a power outlet – and at the same time, it has presented hackers with many more opportunities to perpetrate fraud and carry out attacks that cannot be detected with traditional tools used to detect attacks in web sites. As a result, companies need to apply new fraud controls to protect mobile users and enable them to carry out transactions, check bank accounts, make purchases, etc.

DOWNLOAD White Paper