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OnbeGuard: Leveraging Behavioral Biometrics To Stop Fraud Before It Happens

By integrating BioCatch’s machine learning technology, OnbeGuard continues Onbe’s drive to innovate with frictionless anti-fraud solutions for companies and for payees.

CHICAGO and PHILADELPHIA, Apr 24, 2023 /Businesswire/ Onbe, a leading disbursements financial technology company, today announces the launch of OnbeGuard, the latest enhancement to Onbe’s suite of fraud prevention tools, which now includes the integration of behavioral biometrics from BioCatch, a leader in advanced fraud detection. Consulting firm McKinsey highlights that while the risk of fraud is increasing, up to 25% declined e-commerce sales were false positives. OnbeGuard’s progressive multi-platform, model-based approach combines historical spend patterns and BioCatch’s behavioral biometrics with channel data, to predict and combat both payments fraud and the delays and hassles caused by false positives – at checkout, at account login and at the ATM, empowering a seamless experience for the end user.

With machine learning-supported behavioral biometrics and custom modeling, OnbeGuard identifies and alerts based on individualized needs and behaviors for each client. With OnbeGuard’s machine learning technology, Onbe payment recipients saw an average of 74% reduction in friction, giving payees and businesses the confidence to disburse and to spend while reducing the risk of both escalations and lost funds. Working in the background to reduce false positives, proactively identify compromised accounts and prevent fraudulent transfers and transactions, OnbeGuard enables payees to check their account balances, spend online or in person and transfer money securely and without friction.

“At Onbe, we’re working to provide the latest tools to protect users and combat fraud today and tomorrow,” said Melissa Hentschel, Onbe’s Chief Delivery Officer. “With OnbeGuard’s integration of BioCatch, we continue our work to calibrate our model-based anti-fraud offerings that prevent fraud, reduce escalations and protect disbursement funds, while elevating satisfaction for both the payees and our clients.”

"We are proud to partner with Onbe to provide industry-leading behavioral biometric intelligence for OnbeGuard," said Gadi Mazor, BioCatch CEO. “In today’s digital world, it is more important than ever to prioritize both experience and security to provide the real-time insights necessary to keep users safe and offer seamless payments anytime from anywhere."

Whether providing payment choice with new options like digital wallet provisioning or FX Transfers, Onbe continues to innovate to ensure a secure, frictionless experience for businesses and their customers. By adding BioCatch to its suite of OnbeGuard capabilities, Onbe is leveraging the power of behavior to stay ahead of cyber threats.

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