NEW YORK, NY (September 25, 2019) – BioCatch, the global leader in behavioral biometrics, has added several new products to its industry-leading platform, designed to make it easier for companies to harness the power of behavior. The new additions include a Policy Manager and a Case Manager as well as a series of new behavioral indicators that provide heightened visibility into the risk score generated by the platform, including those factors that would indicate a genuine user and those that point to a potential fraudster. Also included are threat indicators and a list of the factors that are the top contributors to the risk score.
“Online behavior creates a new data set that can indicate in real-time whether someone is who they claim to be online, providing an added layer of visibility for preventing new account fraud and account takeover fraud where the standard solutions are falling short,” said Howard Edelstein, Chairman and CEO of BioCatch. “And unlike traditional two-factor authentication or physical biometrics there is no impact on the user experience since our solution operates seamlessly and invisibly in the background.”
The next-generation BioCatch platform contains the following new products:
The new products are incorporated into the company’s industry-leading behavioral platform, which uses artificial intelligence and machine learning to passively collect over 2,000 parameters of physical and cognitive user actions on PC and mobile channels. By analyzing these parameters in context, BioCatch is able to extract powerful insights that can be applied across various use cases in the digital lifecycle – to detect the use of stolen or synthetic identities in the onboarding phase, authenticate users at login, detect account takeover attempts and recognize sophisticated social engineering scams that occur over the phone.
With over 40 patents in its portfolio and more than 20 that are pending approval, BioCatch’s technology is highly differentiated and typically yields a 10-15x return on investment, according to customer-provided estimates.
“BioCatch has now extended its platform by integrating additional elements required to understand and manage behavioral risk while protecting a session from login to logout,” said Julie Conroy, Research Director of Aite Group’s Fraud and AML Practice. “These added capabilities should further enhance our firms’ ability to detect fraud while not inserting unnecessary friction into the customer experience.”
About BioCatch
BioCatch is a digital identity company that delivers AI-driven behavioral biometrics, analyzing human-device interactions to protect users and data. Banks and other enterprises use BioCatch to significantly reduce online fraud and better manage online identity verification, without compromising the user experience. With an unparalleled patent portfolio and deployments at leading financial institutions and global enterprises around the world that cover more than 90 million users, BioCatch has established itself as the industry leader. For more information, please visit www.biocatch.com.