The BioCatch Case Manager tool empowers fraud operators to investigate high-risk activities and provide genuine and fraud feedback in real-time, reducing the fraud-review operational cost and enhancing accuracy of the risk engine based on confirmed fraud cases. The Case Manager tool helps simplify investigation and drives faster resolution, while providing visibility into the fraud operators activities and workload
The Policy Manager allows fraud teams to define the actions that should take place depending on the various system outputs, streamlining the implementation process and heightening the usability of the BioCatch system. Going beyond simply providing a best-of-breed risk score, the BioCatch Policy Manager offers flexibility in establishing the actions that should occur if the user behavior inside a session triggers a predefined condition. Instead of building rules based on 0-1000 ranges that have to be well-understood for a particular environment, the Policy Manager allows fraud analysts to benefit from added logic that mitigates fraud in real-time, simplifies back-end operations and assists with gathering data for proactive, investigative analysis.
The BioCatch Analyst Station is a web-based interface that displays the data for one or many sessions and provides summary reports. The portal enables the customer to easily detect and act upon possible fraudulent activity in user accounts. The BioCatch Analyst Station is used for post-session data analysis, typically at the end of each day or whenever required by the administrator.
In recent years, Peer to Peer payments have shown a significant increase, passing the $120 billion mark (2017). Currently, one in three American consumers uses P2P apps to make instant payments to friends, relatives, service providers, or anyone they owe money. Since P2P account opening does not require identity verification, it is vulnerable to various types of fraud and threats including malware, social engineering, remote access, SIM swapping, call forwarding and other techniques. Using these techniques, the fraudsters are able to exploit two main points of failure:
The global insurance market is a multi-trillion-dollar market worth more than $4.5 trillion in gross insurance premiums (2015). In 2016, the gross insurance in premiums in the U.S reached $2.67 trillion with $1.5 trillion in paid claims.
Digital transformation in banking and retail is rapidly evolving. In this fast-moving environment, where finance and fraud intersect, there are several ramifications for financial institutions and the user experience.
The equation is quite simple: where there is money, there is fraud. As the use of mobile banking grows, so do the threats of hacks, malware and other remote attacks. Traditional means of detecting fraud can take considerable time and resources, sometimes taking weeks to detect or to confirm an incident.
In the digital world - whether mobile payments, e-commerce or online banking – this is much too long. Transactions happen quickly, and any delay can have significant repercussions, both from a consumer confidence perspective and a cost perspective. In the digital world, it seems there is always a choice to make between security and the user experience.