BioCatch was founded in 2011 by experts in neural science, artificial intelligence (AI), machine learning and cyberterrorism. The company was founded with a significant mission: to address next-generation digital identity challenges by focusing on users’ online behavior rather than static authentication measures such as passwords or endpoint security.

BioCatch Account Opening Protection generates advanced behavioral information to give users the real-time visibility they need to detect more fraud, introduce less friction and acquire more customers.

Financial institutions can integrate Cyberbank and BioCatch to leverage digital identity protection under an end-to-end framework.

The integration of Cyberbank and BioCatch makes it possible to:

• Consolidate the protection and security of each user from the digital onboarding process as well as in the day-to-day life of customers.
• Work under the Cyberbank Platform cybersecurity framework, powered by Biocatch, whose strategic security model ensures that each user’s identity remains secure.
• Deliver a secure user experience across all of the financial institution’s digital channels for an optimal customer journey.

Main Benefits:

• Reduce losses caused by fraud: Integration allows even the subtlest indicators of fraudulent behavior to be detected without ever seeing the user.
• Increase customer acquisition: Reduce false opt-outs and application drops, ensuring that financial institutions can safely acquire more customers.
• Add immediate value: Risk models are based on innovative research and data collected over a decade to provide immediate information on fraudulent vs. legitimate sessions.

Key Features:

• The system analyzes a user’s physical and digital cognitive behavior and continuously monitors web and mobile sessions to identify whether users are genuine or criminal, either human or automated attacks, such as bots, malware or remote access tools (RAT).
• Integration with Biocatch allows us to analyze 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.
• BioCatch provides a secure and frictionless customer experience through “Strong Customer Authentication”.
• BioCatch analyzes behavioral, device, and network attributes to conduct One-Time-Passcode (OTP) profiling and offers a layer of entry of familiar information to protect the Strong Customer Authentication flow under PSD2 (Payment Services Directive).

Biocatch enables:

• Generating the necessary information on customer behavior to provide real-time visibility, detect more fraud attempts, reduce friction, and acquire more customers. 
• Analyzing physical and cognitive behaviors.
• Performing network and device analysis.
• Identifying identity anomalies and detecting patterns of criminal behavior.
• Performing identity analysis to determine the user’s genuine age. 
• Connect existing user behavior profiles with solutions, such as Account Takeover Protection, to streamline the creation of user profiles.