Data sheets

BioCatch delivers advanced behavioral insights to provides global financial institutions with actionable intelligence so they can create a secure customer journey. Learn how BioCatch delivers advanced behavioral biometrics and drives more insight with tools and platform capabilities with these data sheets.

Advanced Behavioral Biometrics with BioCatch

Customer experience is the hallmark of growing revenue in digital channels. However, that revenue can be threatened by losses sustained from new account fraud, account takeover and other cyber threats. As the volume of digital transactions surges, fraud and risk management leaders are tasked with building trust across a broad range of use cases, managing risk across digital channels, and limiting financial losses from cybercrime.

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Case Manager

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

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Policy Manager

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.

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Using Behavioural Biometrics to Combat Social Engineering Scams and APP Fraud

According to a recent report by the UK Finance organization, in 2019 UK Finance members reported 168,376 incidents of Authorised Push Payment (APP) scams over web and mobile channels with gross losses of £379.1 million. This is a 19% increase for web and a 261% increase for mobile from 2018.

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Something You Have vs. Something You Are: The Difference Between Device Recognition and Behavioral Biometrics

The ongoing cat-and-mouse game between fraudsters and security experts has generated a variety of methods to prevent identity theft and ease the authentication process. Behavioral biometrics upends the paradigm, profiling and analyzing user behavior as opposed to what they have or what they know. These are the main differences between device recognition methods (something you have) and behavioral biometrics (something you are).

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BioCatch Analyst Station

The BioCatch Analyst Station provides fraud analysts with the visibility they need in order to easily identify, investigate, and act upon potentially fraudulent activity in user accounts.

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Behavioral Biometrics in a P2P World

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:

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Behavioural Biometrics in a PSD2 World

Two major implications of PSD2 are Access to Account and Strong Customer Authentication. PSD2 also requires TPPs to meet strict criteria and maintain very low fraud rates in order to stay active in the marketplace. In many ways, these requirements upend the financial ecosystem by holding various players responsible for different aspects of the payment process. This makes it difficult for all parties involved to prevent fraud and at the same time provide customers with a positive user experience.

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Behavioral Biometrics for Mobile

In an age where the use of smart phones has skyrocketed and consumers require convenience more than ever, financial institutions continue to invest in mobile banking. In fact, the Federal Reserve recently predicted that ~96% of US financial institutions will offer mobile banking by 2021*. With nearly 2 billion** mobile banking users worldwide, financial institutions see this as a perfect opportunity to improve customer satisfaction and in turn increase acquisition and retention.

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