BioCatch

Fraud Solution Profile

BioCatch’s behavioral biometrics anonymously analyzes how human users interact with their devices during online banking sessions to protect those account holders, their data, and their money. Financial institutions deploying BioCatch solutions have drastically reduced online fraud without compromising their customer experience. As of the end of Q12024, BioCatch monitors 10.8 billion user sessions per month, protecting 406 million people around the world from fraud. The company saved digital-banking customers an estimated $2.5 billion in fraud losses in 2023.

As of the end of Q12024, more than 30 of the world’s largest 100 banks and 196 total financial institutions rely on BioCatch Connect™ to combat fraud, facilitate digital transformation, and grow customer relationships. BioCatch’s Client Innovation Board – an industry-led initiative featuring American Express, Barclays, Citi Ventures, HSBC, and National Australia Bank – collaborates to pioneer creative and innovative ways to leverage customer relationships for fraud prevention. With more than a decade of data analysis, 92 registered patents, and unmatched expertise, BioCatch continues to lead innovation to address future challenges. 

Social-engineering scam detection

BioCatch analyzes user behavior in real-time to detect when an individual is conducting a transaction under the influence of a cybercriminal, helping banks protect their customers from voice scams and authorized push payment fraud.

Money laundering prevention

BioCatch identifies mule accounts both when criminals open them and as they prepare to cash them out. Research shows proactive closure of mule accounts drastically reduces all types of fraud, while also lowering operational and reporting costs and mitigating reputational and regulatory risk.

Account opening and account takeover protection

BioCatch generates advanced behavioral insights to provide its customers with the continuous, real-time visibility they need to detect more fraud, increase trust, introduce less friction, acquire more customers, and improve the customer experience on their digital channels.

PSD2-strong customer authentication

BioCatch analyzes behavioral, device, and network attributes to conduct one-time-passcode (OTP) profiling and offer a layer of entry of familiar information to protect strong customer authentication flow under PSD2.