Israeli-based behavioral biometrics company BioCatch has announced that it has been named to the CB Insights Fintech 250, recognizing it as one of the fastest growing companies working to innovatively transform the fintech industry.
BioCatch uses behavioral biometrics as an alternative to outmoded PIN, password, and username methods to enhance digital security in the fintech sector. Behavioral biometrics monitor various user activity patterns to provide continuous authentication and protection from online banking fraud.
“This prestigious recognition by CB Insights as one of the world’s most transformative fintech companies is a testament to the insights provided by our Board and the hard work and dedication of our talented BioCatch team,” said Chairman & CEO Howard Edelstein. “We are constantly developing new behavior-based solutions for our growing list of clients using powerful artificial intelligence and machine learning insights. Our rapid growth demonstrates the strong demand for our technology and the trust our clients place in us to protect them and their own customers from cyberattacks.”
The ongoing COVID-19 pandemic has seen a dramatic rise in cybersecurity threats, with experts from around the world pointing to biometric solutions like the ones offered by BioCatch as the more secure alternative for the safeguarding of data. With more than 150 million individual behavioral profiles in its data set, the company is able to analyze more than a billion digital sessions each month.
To be selected for this list, BioCatch was chosen from a pool of 16,000 companies evaluated on a number of different factors including their momentum in the market and their business models. CB Insights’ proprietary Mosaic scores algorithm, which measures the overall health and growth of private companies, was also taken into account in the selection process.
September 16, 2020 – by Tony Bitzionis