• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

FindBiometrics

FindBiometrics

Global Identity Management

  • Biometrics
    • What are Biometrics?
    • FAQ
    • Biometric Associations
    • Companies
    • Premier Partners
  • News
    • Featured Articles
    • Interviews
    • Thought Leadership
    • Podcasts
    • Webinars
    • Year in Review
  • Applications
    • Biometric Security
    • Border Control and Airport Biometrics
    • Consumer and Residential Biometrics
    • Financial Biometrics
    • Fingerprint & Biometric Locks
    • Healthcare Biometrics
    • Justice and Law Enforcement Biometrics
    • Logical Access Control Biometrics
    • Mobile Biometrics
    • Other Biometric Applications
    • Physical Access Control Biometrics
    • Biometric Time and Attendance
  • Solutions
    • Behavioral Biometrics
    • Biometric Sensors and Detectors
    • Facial Recognition
    • Biometric Fingerprint Readers
    • Hand Readers & Finger Scanners
    • Iris Recognition
    • Biometric Middleware and Software
    • Multimodal Biometrics
    • Physiological Biometrics
    • Smart Cards
    • Vein Recognition
    • Voice and Speech Recognition
  • Stocks
  • Events
  • Companies
  • Podcasts

BioCatch Combats New Account Fraud with Behavioral Biometrics

March 16, 2020

Biometrics News - BioCatch Combats New Account Fraud with Behavioral Biometrics

BioCatch is once again highlighting the utility of behavioral biometrics in the wake of Experian’s latest Global Identity and Fraud report. That report found that the vast majority (95 percent) of businesses were confident in their ability to identify their customers, even though most (57 percent) had experienced higher losses from account opening and account takeover fraud.

The discrepancy suggests that many organizations may be placing too much faith in their current security setup. Account opening fraud carried a $3.4 billion price tag in 2018 alone, and is becoming more common thanks to the increasing availability of stolen personal information.

That’s where behavioral biometrics comes into play. BioCatch argues that a strong security system needs to be able to confirm the identity of a user at every stage of an online session, and not just at the initial login. Behavioral biometrics builds a comprehensive profile of each user based on the way they interact with their device, and uses that to watch for any anomalous (and potentially fraudulent) activity. The tech provides ongoing authentication at every stage of the application process without creating more friction for the user.

BioCatch notes that its system profiles both legitimate user activity and criminal activity, which gives the platform a better chance to spot fraudulent behavior patterns during a session. The company’s platform also gives businesses more insight into each interaction, enabling them to make more informed security decisions for their users.    

BioCatch augmented its technology portfolio with the acquisition of AimBrain earlier this year.

–

March 16, 2020 – by Eric Weiss

Related News

  • BioCatch Details Business Benefits of Behavioral BiometricsBioCatch Details Business Benefits of Behavioral Biometrics
  • BioCatch Examines Behavioral Predictors of New Account FraudBioCatch Examines Behavioral Predictors of New Account Fraud
  • BioCatch Calls Attention to Rising Rates of Digital FraudBioCatch Calls Attention to Rising Rates of Digital Fraud
  • BioCatch: Behavioral Biometrics Stops More Complex Forms of FraudBioCatch: Behavioral Biometrics Stops More Complex Forms of Fraud
  • Experian Maintains Biometric Focus with Acuant PartnershipExperian Maintains Biometric Focus with Acuant Partnership
  • Behavioral Biometrics Specialist BioCatch Names New CEOBehavioral Biometrics Specialist BioCatch Names New CEO

Filed Under: News Tagged With: account opening fraud, anti-fraud technology, behavioral biometrics, BioCatch, Biometric, biometrics, corporate blogs, Experian, Experian Global Identity and Fraud report, PII

Primary Sidebar

Want To Deploy Biometric Access? Download This First:

The resources in this bundle will give you the know-how to choose the right biometric access for your organization.

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

TECH5 logo

TECH5 is an international technology company founded by experts from the biometrics industry, which focuses on developing disruptive biometric and digital ID solutions through the application of AI and Machine Learning technologies.

TECH5 target markets include both Government and Private sectors with products powering Civil ID, Digital ID, as well as authentication solutions that deliver identity assurance for various use cases. 

Learn more: www.tech5.ai

With its secunet border gears product portfolio and specialised consulting expertise, secunet supports police forces and security authorities in their sovereign tasks. Whether ABC gates, self-service kiosks or biometric middleware – each component helps to strengthen identity protection and to accelerate verification – in mobile and stationary scenarios.

Mobile ID World Logo

Mobile ID World is here to bring you the latest in mobile authentication solutions and application providers. Our company is dedicated to providing users with the best content and cutting edge information on technology, news, and mobile solutions for your mobile identity management needs.

Recent Posts

  • Jumio Brings Talent Boost to Sales Team
  • FaceTec Ups the Ante, Triples Spoof Bounty Prize to $600,000
  • Veridos Acquires Serbia-based Identity Management Specialist NetSeT
  • FindBiometrics and Acuity Market Intelligence to Unveil Biometric Digital Identity Prism at Feb 15 Virtual Event
  • Facial Recognition in Policing, COVID Screening, and Consumer Tech: Identity News Digest

Biometric Associations

IBIA and fido

Tweets

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 FindBiometrics