Collaboration Delivers End-to-End Intelligent Banking Cloud Platform with Online Fraud Detection Powered by Next-Generation Behavioral Biometrics
NEW YORK, NEW YORK –– JUNE 07, 2023 -- BioCatch, a global leader in fraud detection, today announced the global expansion of its behavioral biometric intelligence solutions in collaboration with Microsoft and now available as an offering for Microsoft’s Cloud for Financial Services (FSI Cloud).
Microsoft Cloud for Financial Services provides capabilities to deliver differentiated experiences, empower employees, and combat financial crime while facilitating security, compliance, and interoperability.
Working with Microsoft since 2011, BioCatch provides effective and comprehensive anti-fraud support, and through Microsoft Cloud for Financial Services, BioCatch can extend further protections for banks transitioning to cloud-based operations for a protected, frictionless digital experience for consumers.
BioCatch and Microsoft reliably enable consumer protections against fraud through BioCatch’s behavioral biometrics software and Azure’s intelligent banking platform, underscoring the impact the solution alignment has had with financial institutions for over a decade.
“BioCatch and Microsoft have been great partners for us in our mission to protect M&T banking customers from harmful fraud attacks,” says Aaron Steinitz, Director of Enterprise Fraud Policy and Governance, M&T. “The visibility we get into the data by leveraging BioCatch’s technology via Microsoft Azure enables our fraud teams to swiftly address complex fraud attacks and reduce manual reviews, giving our customers better protection and an improved experience.”
“We are excited to continue working with Microsoft to provide behavioral biometric cloud-based fraud protection solution for financial institutions looking to reduce risk for their cloud operations,” said Eyran Blumberg, BioCatch COO. “As banks and fintech businesses take their operations to the cloud, threat actors looking to exploit cloud vulnerabilities and scam the consumer become a larger problem. BioCatch is proud to provide the necessary and effective solutions for financial institutions to continue growing in the right direction, with the important understanding that their consumer accounts are kept safe.”
One of the key elements of BioCatch’s technology now being available for Microsoft Cloud for Financial Services is the ability for financial services organizations to purchase BioCatch’s solutions through Azure Marketplace. This accessibility enables them to seamlessly combine their transition to cloud-based financial operations with a proven behavioral biometrics solution that can analyze billions of sessions per month for its users. Through this, Azure provides enhanced risk management and protection for customers through a seamless user experience.
“We’re pleased that BioCatch is tapping into the power of Microsoft Cloud for Financial Services to help financial institutions unlock business value and deepen customer relationships,” said Bill Borden, Corporate Vice President, Worldwide Financial Services, Microsoft. “We look forward to the enhanced opportunities this will bring to our joint customers, helping empower fraud and risk teams with behavioral biometric intelligence to act quickly while also giving consumers a safer and frictionless digital banking experience.”
BioCatch’s fraud prevention solution also keeps financial business operations in compliance with protection measures and digital safety requirements. With this, BioCatch’s behavioral biometrics solution enables financial institutions who use Azure to streamline fraud detection capabilities with global cloud scaling, keeping pace with the needs and demands of any cloud strategy financial institutions seek to deploy in Azure.
BioCatch is the leader in Behavioral Biometrics and advanced fraud detection, leveraging technology built upon machine learning to analyze an online user's physical and cognitive digital behavior to protect individuals online. BioCatch's mission is to unlock the power of behavior and deliver actionable insights to create a digital world where identity, trust and ease seamlessly co-exist. Today, BioCatch counts over 25 of the top 100 global banks as customers who use BioCatch solutions to fight fraud, drive digital transformation and accelerate business growth. BioCatch's Client Innovation Board, an industry-led initiative including American Express, Barclays, Citi Ventures, and National Australia Bank, helps enable BioCatch to identify creative and cutting-edge ways to leverage the unique attributes of behavior for fraud prevention. With over a decade of analyzing data, more than 80 registered patents, and unparalleled experience, BioCatch continues to innovate to solve tomorrow's problems. For more information, please visit www.biocatch.com.