Fraud Detection for Companies of the Future: Q&A with Julia Kogan, Strategic Account Manager at BioCatch

Dec. 1, 2017 | by BioCatch

Fraud in the digital age is only becoming more complex, and methods for fraud detection have to keep pace. In this Q&A, get to know Julia Kogan, a strategic account manager at BioCatch. Her diverse background in cybersecurity and daily interaction with BioCatch clients gives her a unique perspective into the challenges organizations face in stopping sophisticated fraudsters from compromising companies and customers. Keep reading to learn what it means to work in strategic account management on the cutting-edge of behavioral biometrics.

Tell us about your academic and military background, your transition to the biometrics industry and your role at BioCatch.

Julia Kogan: I’ve been living and breathing cybersecurity for the last 10 years. I started in an elite technology unit in the IDF known as the 8200, where I held various technical and management roles. After my Army service, I worked at a few large cybersecurity enterprise companies prior to joining BioCatch. In my spare time, I teach cybersecurity national architecture courses for MBA students in Tel Aviv University and I am involved in various Women in Cybersecurity networking groups here in Israel.

What exactly is 'Strategic Account Management'?

Kogan: At BioCatch, a strategic account manager is the main focal point for the client following the initial deployment. This person learns the client’s needs, and develops a deep understanding of the internal processes of the client organization. I view my role as being a trusted advisor to my clients, bringing together subject matter expertise on cybersecurity, authentication and fraud trends; behavioral biometrics and BioCatch’s capabilities in combating the latest cyberthreats; and understanding the specific requirements that the client has in order to help maximize the value that we as an organization can deliver to them. The strategic account manager also represents the client needs to the rest of the BioCatch organization, helping to streamline deployments, software updates, reporting needs and other factors that play into our customer success.

From your perspective, what are the main challenges your clients are facing when it comes to fraud detection?

Kogan: The main challenges I’m seeing can be mapped into two main areas:

  1. Relentless fraud: Financial institutions such as banks have a target painted on their backs – where there is money, there is fraud – and as a result, they need to always be prepared and alerted.
  2. Actionable data: Our clients are able to collect huge amounts of information on their customers’ activities. But not all of it is fraud related or relevant to how they best service them. The challenge, however, is separating the wheat from the chaff and knowing which signals to respond to and how. We help them by providing real-time risk scores which they use to de-escalate certain fraud cases, which not only eases their burden in seeing through the clutter, but also gives their customers a better user experience.

Can you tell us about an interesting fraud case from one of your clients and how BioCatch was able to help?

Kogan: One of our banking clients faced a troubling issue: a malware installed on many of their customers’ computers allowed attackers to gain full access to personal bank accounts. While the client had many security and anti-fraud products installed, none of these solutions was able to detect the new strain of malware. BioCatch was the only one to identify this case as fraud, based on suspicious behavioral patterns, not by relying on existing libraries. This resulted in saving the client large sums of money as well as avoiding significant inconvenience to the customers. The BioCatch team worked side by side with the client teams to demonstrate the malware’s “behavior” and guide them through risk-mitigation going forward.

Given your background and experience in the cyber world, what makes BioCatch's fraud detection solution superior in today's marketplace?

Kogan: BioCatch has a unique perspective of not only monitoring what operations were done by the end users but also monitoring how exactly those operations are being done. As a result, malwares, RATS and fraudsters have no place to hide.

Where do you think behavioral biometrics is going in the next five years?

Kogan: As brick and mortar banking gradually becomes a thing of the past, online banking use-cases are greatly increased. While just a few years ago behavioral biometrics was only a buzzword, I think that in five years from now, it will be the standard way to identify people online.

To learn more about BioCatch’s fraud detection capabilities, download our datasheet.

Topics: Behavioral Biometrics, Fraud Prevention