- Website: http://www.biocatch.com
- Company size (employees): 50 to 99
- Country: United States
- Headquarters Region: North America
In 3 bullets, summarize why this company is different from the competition and deserves recognition:
- BioCatch has a group of patents that pertain to a cutting-edge capability called Invisible Challenges. These are patented techniques that introduce subtle tests into the online session that users subconsciously respond to without sensing any change in their experience. The response contains behavioral data that is used to distinguish a real user from an imposter, whether human or non-human (robotic activity, malware, aggregator, etc.). These tests include: disappearing mouse, rotation of movement, and spinning wheel.
- Compared to competition, BioCatch has reached critical mass and scale with marquee customers around the world and solve problems no other company can.
BioCatch has detected and prevented fraud that traditional fraud detection methods could not for numerous customers such as Top-5 US banks. For a Top-5 credit card issuer, BioCatch was able to reduce false declines by 33%, provide 50% more accurate fraud alerts than existing solutions and have 100% of alerts either confirmed as fraud or highly suspicious.
- BioCatch has secured integrations and partnerships with top institutions worldwide such as LexisNexis, Experian, Microsoft, Samsung SDS, Nuance and Forgerock.
In less than 300 words, summarize the achievements of the company in the nominated category
In developing a platform to identify both human and non-human behaviors online, BioCatch revolutionized the way organizations secure online assets. Today, the company continues to innovate while driving awareness of the next generation of fraud prevention needs. BioCatch ambitiously addresses a broad range of cyber concerns with an unparalleled portfolio of more than 55 granted or pending patents.
BioCatch’s dynamic, enterprise-grade solution is deployed at major banks and eCommerce sites worldwide. The system proactively collects and analyzes more than 2,000 parameters to generate unique user profiles and model different types of genuine and malicious behavior. The BioCatch platform continuously authenticates users to protect against cyber threats and fraudulent activity, such as account takeover and RAT-in-the-Browser (RitB) threats, reducing false alarms while providing impressive returns on investment.
Today BioCatch monitors nearly 6B transactions per month and has 70 million users. BioCatch is now expanding to into the APAC region of the world. The company continues to find new use cases as well. BioCatch is now used by some of the top institutions in the world for new account opening and authentication – not just fraud prevention.
With its team of experts bringing decades of experience in authentication and fraud prevention, BioCatch continues to drive innovation and leadership around digital identity and cybersecurity.