Annual rankings highlight the growth in demand for behavioral biometrics in the financial sector, with BioCatch realizing a 50% revenue increase last year earning a place in the top half of fastest growing companies.
NEW YORK (August 17, 2022) – BioCatch, – BioCatch, the global leader in behavioural biometrics, today announced its recognition on Inc. Magazine’s annual Inc. 5000 list, one of the most prestigious rankings of the fastest-growing private companies in America. The Inc. 5000 list highlights and profiles the most successful and forward-thinking companies and sectors in America. For the second year in a row, BioCatch is the only provider of behavioral biometrics to make the list.
“We are honored to be recognized on the Inc. 5000 list for the second year in a row,” said Gadi Mazor, BioCatch CEO. “As financial institutions and their customers face rising levels of financial fraud, scams and identity theft, the need to implement BioCatch’s best-in-class behavioral biometrics solutions is more critical than ever. I’m proud of our stellar team, who remains focused on providing our clients with the latest technologies needed to help them stay ahead of evolving fraud threats .”
BioCatch advances digital banking by seamlessly securing digital transactions that improve the customer experience. As the leader and industry pioneer in AI-driven behavioral biometrics, the company leverages its proprietary technology to analyze over three billion digital sessions per month in real time, helping more than 60 of the world’s largest financial institutions and 25 of the top 100 global banks protect their assets and customers from fraud and identity theft.
The Inc. recognition comes during a period of rapid growth, expansion and continued industry disruption for BioCatch as financial crime continues to rise significantly. In addition to realizing more than 50 percent growth in annual recurring revenue (ARR) last year, the company expanded its customer base by over 30 percent and hired 85 employees worldwide to support increased demand for behavioral biometrics solutions.
Over the past year, BioCatch also launched a Mule Account Detection solution to help financial institutions address money laundering, an epidemic that constitutes an estimated $3 billion in fraudulent transfers. The company stopped over 1 million potential fraud attempts in 2021 and since the beginning of 2022 secured 15 new patents in the U.S., U.K., France, and Europe, bringing their global total to 84.
BioCatch is the leader in Behavioral Biometrics, a technology that leverages 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