NEW YORK, NEW YORK and TEL AVIV, ISRAEL (June 21, 2021) – BioCatch, the global leader in behavioral biometrics, announced today that it has been named an Overall Leader in the 2021 KuppingerCole Leadership Compass for Fraud Reduction Intelligence Platforms. In addition, BioCatch was also recognized in the report for Innovation and Product Leadership.
The KuppingerCole Leadership Compass provides an independent review of fraud prevention solutions across several categories including vendor service functionality and innovative approaches and serves as a useful guide to help organizations select the right solution to meet their business needs.
This recognition comes at a time where fraud and cybercrime reached record levels due to the pandemic, the use of digital channels has soared and consumer facing businesses are under increasing pressure to implement technology that does not introduce friction into the customer journey. BioCatch solutions continuously analyze an online user’s physical and cognitive behavior throughout the entire digital session. BioCatch’s innovative behavioral biometric technology is leveraged by more than 50 global financial institutions to reduce the emotional and financial impact of fraud and identity theft for their customers, providing trust and safety while protecting customers and their assets from today’s most sophisticated fraud threats.
Behavioral biometrics monitors a user’s digital behavior throughout the customer journey, providing continuous protection and ensuring a seamless and secure online experience. BioCatch boasts a robust data set, with over 200 million individual behavioral profiles and more than two billion digital sessions analyzed per month, making it far and away the leader in its field. BioCatch maintains its position as industry leader due to its constant innovation, as shown by its portfolio of more than 60 global patents, including a patent to protect against voice scams, which have been on the rise due to the isolation of social distancing and increase use of mobile banking.
“We are honored to be recognized as best-in-class by KuppingerCole.” said COO and Israel GM, Gadi Mazor. “At BioCatch, we are committed to relentlessly pushing the forefront of innovation and being the first to address emerging threats as fraud evolves. Working closely with our customers has enabled us to develop new behavior-based solutions using powerful artificial intelligence and machine learning to solve the toughest cybersecurity challenges and protect our global clients and their customers from the most sophisticated cyberattacks.”
“Given the rapid evolution of cybercrime, innovative approaches are required to stay ahead of the challenge of fraud reduction and management,” states John Tolbert, Lead Analyst and Managing Director at KuppingerCole. “The powerful insights that can be gleaned from analyzing digital behavior with behavioral biometrics technology is recommended for businesses looking to solve a myriad of complex fraud use cases and also enhance existing fraud prevention controls to minimize customer friction. The BioCatch solution uses highly innovative technology to thwart fraud and should thus be considered on a short list of vendors for any organization launching an RFP process for fraud reduction services.“
KuppingerCole, founded in 2004, is a global, independent analyst organization headquartered in Europe. The firm specializes in providing vendor-neutral advice, expertise, thought leadership, and practical relevance in Cybersecurity, Digital Identity & IAM (Identity and Access Management), Cloud Risk and Security, and Artificial Intelligence, as well as for all technologies fostering Digital Transformation.
BioCatch is the leader in Behavioral Biometrics which analyzes an online user’s physical and cognitive digital behavior to protect individuals and their assets. Our 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. Leading financial institutions around the globe use BioCatch to more effectively fight fraud, drive digital transformation and accelerate business growth. With over a decade of analyzing data, over 60 patents and unparalleled experience, BioCatch continues to innovate to solve tomorrow’s problems. For more information, please visit www.biocatch.com