10x-15x ROI According to Customer-Provided Estimates
With implementations with tier-one financial institutions worldwide, BioCatch behavioral biometrics has proven to deliver tremendous returns on investment once deployed. Traditional fraud prevention tools fall short of addressing the sophisticated methods that fraudsters are employing today. In fact, most fraud today comes either from using synthetic or stolen IDs or after the login.
As a result, the savings attributed to BioCatch may reach millions of dollars per month, with very high fraud detection performance rates. As impressive as these values are, they represent only part of the big picture. Other less-quantifiable value dimensions such as user satisfaction and preventing user abandonment by minimizing false positives are just as significant, if not more.
Using well-established methodologies that look at actual fraud savings as well as operational savings due to fewer escalations and step up authentication protocols, business line managers, fraud prevention departments and information security officers can apply a predictable and rational model for the best way to apply behavioral biometrics in their organizations. The value quantification process can be utilized at any organization not only to assess the actual business value for behavioral biometrics, but also to optimize the set of fraud detection solutions deployed, the set-up, and their threshold settings.
In addition to tremendous savings, behavioral biometrics may also accelerate the deployment of new applications and offerings, reduce risk, increase management confidence and create new growth opportunities.