Israeli-based behavioral biometrics company BioCatch announced that it has been named an Overall Leader in the 2021 KuppingerCole Leadership Compass for Fraud Reduction Intelligence Platforms report, along with also being recognized for its Innovation and Product leadership in the same report.
“We are honored to be recognized as best-in-class by KuppingerCole.” said COO and Israel GM, Gadi Mazor. “At BioCatch, we are committed to relentlessly pushing the forefront of innovation and being the first to address emerging threats as fraud evolves. Working closely with our customers has enabled us to develop new behavior-based solutions using powerful artificial intelligence and machine learning to solve the toughest cybersecurity challenges and protect our global clients and their customers from the most sophisticated cyberattacks.”
The KuppingerCole Leadership Compass is an independent review of various fraud prevention solutions in a number of different categories including vendor service, functionality, and innovation, and is meant as a resource for organizations to use when looking for a vendor for their specific needs.
The COVID-19 pandemic has led to a marked increase in the threat of fraud and cybercrime throughout the world, as a record number of people are spending more time online due to social and physical distancing measures meant to limit the spread of the virus.
Over the past several months BioCatch has issued a number of warnings to businesses on the growing cybercrime threats that have emerged, while at the same time extolling the benefits of its behavioral biometrics solutions as a means of combating them.
“Given the rapid evolution of cybercrime, innovative approaches are required to stay ahead of the challenge of fraud reduction and management,” states John Tolbert, Lead Analyst and Managing Director at KuppingerCole. “The powerful insights that can be gleaned from analyzing digital behavior with behavioral biometrics technology is recommended for businesses looking to solve a myriad of complex fraud use cases and also enhance existing fraud prevention controls to minimize customer friction. The BioCatch solution uses highly innovative technology to thwart fraud and should thus be considered on a short list of vendors for any organization launching an RFP process for fraud reduction services.“
June 22, 2021 — by Tony Bitzionis