Tel Aviv-based BioCatch has launched a “New Account Fraud Detection” solution which uses behavioral biometrics to detect, in real- time, when fraudsters use stolen /synthetic personal information to create a new account.
Additionally, by mapping inconsistent behavior patterns in the application flow, the technology can distinguish between human and non-human activities and send an immediate alert when Bot activity is detected.
The BioCatch Behavioral Biometrics technology is able to distinguish between normal new account opening behaviors and anomalous behaviors by analyzing the following features: Input familiarity, application fluency, user expertise, robotic-behavior detection.
The Company says is what is doing is basically using its experience with Behavioral Biometric Authentication to identify threats such as malware and new account fraud. In a sense BioCatch is teaching its system to profile criminal behavior and later ask it to authenticate the fraud.
Available as a cloud-based solution, BioCatch proactively collects and analyzes more than 400 cognitive parameters to generate a unique user profile. Banks and eCommerce websites and mobile apps use BioCatch to significantly reduce friction associated with risky transactions and protect users against cyber threats, such as Account Takeovers, Man-in-the-Browser (MitB) Malware and Remote Access (RAT) attacks.
BioCatch provides an enterprise tool that improves the employee authentication experience while additionally protecting access to critical IT assets
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