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.
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.
NACHA’s announcement of same-day ACH (Automated Clearing House) payments will benefit both businesses and consumers whose payments are eligible for same-day transaction processing. This is how BioCatch is supporting this change.
Cross-channel fraud is an advanced attack method in which the fraudster steals a user’s credentials and personal information from one channel, in order to commit fraud in an associated channel and/or account. BioCatch has developed effective methods to thwart these attacks.
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.
With cyber attackers becoming much more sophisticated, security measures must get smarter too. The key is to implement security measures that continuously monitor and test the authenticity of users in ways that are difficult to replicate.
Overview Behavioral biometrics is a breakthrough cybersecurity technology that identifies people by how they do what they do, rather than by what they are (e.g., fingerprint, face), what they know (e.g. secret question, password) or what they have (e.g. token, SMS one-time code). Behavioral biometrics measures and analyzes patterns in human activities. Historically, these included keystroke patterns, gait, signature and the like.