In recent years, the global financial sector has experienced a significant surge in new types of fraud and cybercrime. Breaking it down to geographic regions, we see that these dynamics are influenced by a wide array of factors such as the political setting, financial practices, IT structures and the regulatory environment.
Our security walls aren’t as high as we think they are. There are holes, and cybercriminals know how to slip through them, undetected. Application fraud has become a number one problem for companies across all verticals. In 2016, more than 25% of identity theft fraud involved the use of stolen information to open new accounts.
Game-Changing Behavioral Biometrics Technology Delivers Greater Accuracy and Addresses More Use Cases Across the Digital Identity Lifecycle
BioCatch’s AI-driven behavioral biometrics solution is unique in that it goes beyond traditional authentication, leveraging deep domain expertise to help answer the question of whether someone really is who they claim to be when they transact online. More than 2,000 behavioral parameters are collected passively in the background of an online session, revealing powerful insights that support various use cases across the digital lifecycle.
Behavioral biometrics enables the measurement and analysis of patterns in human activities. It’s a breakthrough cybersecurity technology that identifies people by how they do what they do, rather than static phyiscal characteristics, like what they know, or what they have access to. It is the advanced solution for fighting cybercrime in an age when criminals have more access to our personally identifiable information (PII) and more sophisticated hacking methods than ever before.
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.
Digital transformation has swept the business world. From banking to insurance to e-commerce, being able to offer a compelling digital experience is the best way to attract and engage customers. Though digital transformation is a boon to both companies and their customers, it also introduces huge cybersecurity challenges for securing online sessions and preventing fraud.