Enables Integration of Cutting-Edge Behavioral Biometrics Into IoT and Customer Identity and Access Management to Prevent New Account Fraud and Account Takeover Attacks
NEW YORK, NEW YORK - May 2, 2018 – BioCatch, the global leader in behavioral biometrics, announced today that it has joined the ForgeRock Trust Network as a Principal Partner, offering its behavioral biometrics solution as an integrated module to the ForgeRock platform. The combination enables a seamless way to secure people, devices and things, in protecting against new account fraud and account takeover attacks. BioCatch will demonstrate its solutions at the ForgeRock Identity Live Conference in Austin, Texas, which starts today.
Ben Goodman, vice president of Global Strategy and Innovation, at ForgeRock, said, “We are pleased to add BioCatch to our partner program. Their integration into our platform and the leveraging our new Intelligent Authentication technology will make it easier for clients to adopt this cutting-edge behavioral biometrics capability into their Digital Identity and IoT projects. BioCatch delivers results across the identity ecosystem, from the account creation stage, to the login and beyond, providing a powerful layer of actionable intelligence and continuous authentication to protect against the most intractable identity challenges that our customers are facing today.”
According to Gartner’s April 2018 Market Guide for Identity Proofing and Corroboration, new account synthetic or stolen identity fraud and account takeover fraud account for over half of user concerns (n=297). Gartner lists BioCatch in this report, as a Representative Vendor for digital attribute corroboration and assessment; navigation and behavioral analysis; and real-world and digital identity reputation.
BioCatch integrates with the ForgeRock Identity Platform to detect criminal behaviors that use stolen/synthetic identities at the on-boarding registration page to protect against new account fraud. During the application process, this solution monitors behavior and is able to discern between a real user and an impostor. This approach is achieved by recognizing normal user behavior as opposed to the behaviors of fraudsters, who demonstrate low familiarity with the data requested in the application, which suggest it doesn’t belong to them, together with high degree of fluency within the application form , which is not normal for a user who is opening a new account for the first time.. For preventing account takeover, the BioCatch technology establishes user profiles based on 2000 parameters and is able to discern anomalies coming from malware, robotic attacks, remote access attacks or social engineering in real-time.
“We believe the Gartner report suggests that today’s identity landscape is very dangerous and vulnerable to all kinds of threats. It hits the core of all types of enterprises – banks, telecommunications, healthcare, insurance, government agencies and others,” said Avi Turgeman, Co-Founder, CTO and Vice President of Business Development. “With more than 9 billion identity records stolen in the last five years, answering the question ‘how do I know who you really are’ is increasingly difficult, yet enterprises are challenged with how to incorporate the latest technologies into their technology stack. Our integration with ForgeRock will make it easy for their customers to adopt the latest in identity proofing and continuous authentication technologies via behavioral biometrics to secure the enterprise, IoT environment and consumers overall.”
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ForgeRock® is a Digital Identity Management company that offers solutions to help organizations interact securely with customers, employees, devices, and things. Organizations adopt the ForgeRock Identity Platform™ as their digital identity system of record to monetize customer relationships, address stringent regulations for privacy and consent (GDPR, HIPAA, FCC privacy, etc.), and leverage the internet of things. ForgeRock serves hundreds of brands, including Morningstar, Vodafone, GEICO, TomTom, and Pearson, as well as governments such as Norway, New Zealand, and Belgium, among many others. For more information and free downloads, visit www.forgerock.com.
BioCatch™ is a cybersecurity company that delivers behavioral biometrics analyzing human-device interactions to protect users and data. Banks and other enterprises use BioCatch to significantly reduce online fraud and protect against a variety of cyber threats, without compromising the user experience. With an unparalleled patent portfolio and deployments at major banks around the world that cover tens of millions of users to date, BioCatch has established itself as the industry leader. For more information, please visit www.biocatch.com.