TORONTO, ONTARIO (September 6, 2017) - HoneyTek Systems, a boutique-oriented Systems Integrator, Network Security VAR and MSSP is proud to announce that it has signed a partnership agreement with behavioural biometrics industry leader, BioCatch, to deliver disruptive and game changing fraud prevention and behavioral biometrics solutions to their global account base in Canada and abroad.
Behavioral biometrics is a next-generation continuous authentication technology that analyzes the way people interact with an online application or device. It is a passive modality that is typically implemented to prevent identity theft and account takeover in the digital channel, where traditional fraud prevention methods have proven to have limited effect. Behavioral biometrics also help to improve user experience, by minimizing false alarms and providing frictionless continuous authentication throughout a session, from login to logout. BioCatch compliments HoneyTek’s existing firewall, SIEM, IPS and cloud and endpoint security offerings, by providing a dynamic layer of identity assurance.
“Given the trends in fraud and the challenges that our customers are facing, it is important for us to provide solutions that help them stay ahead of the curve. With their unique approach to addressing account takeover threats that occur beyond the firewall or login process, BioCatch helps us deliver on this promise,” said Nitish Hejmadi, HoneyTek President and CEO. “Our products are designed to meet the needs of all aspects of network security, and being able to identify account takeover threats stemming from malware, robotic activity, Remote Access Trojans and social engineering, is very important in the current cybersecurity climate we are operating in. We are happy to add BioCatch to our family of offerings,” he added.
Account takeover is one of the most intractable cybersecurity challenges that enterprises are facing today. Remote Access Trojans (RATs), in particular, are the attack vector of choice, because of the great difficulty in detecting them. Traditional malware detection tools are not capable of recognizing most RAT attacks, because fraudsters remotely take over a bona fide user’s logged-in session, after the user has appropriately and correctly authenticated themselves, with no malware involved. Similarly, because by definition they usurp a user’s login and device credentials, traditional verification and network security tools are not effective in recognizing them.
“From inception, BioCatch has been focused on understanding how people interact online, to detect criminal and account takeover activity. As the market demand for holistic network security solutions grows beyond firewalls, device recognition, and traditional malware detection tools, behavioral biometrics becomes a natural fit to complimenting what is in an existing security ecosystem. Our work in this area, exemplified by the patent that we have recently been granted on the use of behavioral biometrics to recognize remote access attacks, positions us as the go-to-partner for an integrator like HoneyTek that is looking to provide a full solution. We are thrilled to be working with them to address this need in the Canadian market and beyond,“ said Eyal Goldwerger, CEO of BioCatch. BioCatch’s dynamic, enterprise-grade solution is deployed at major banks and eCommerce sites worldwide, monitoring over 4 billion transactions per month and providing measurable return on investment and continual results in addressing today’s cybersecurity challenges.