- Website: http://www.biocatch.com
- Company size (employees): 50
- Headquarters Region: Middle East
In 3 bullets, summarize why this company deserves recognition:
- BioCatch represents the leader in behavioral biometrics, with more than 40 patents pending or granted covering a wide array of capabilities, and is leading this market with the largest deployments in major banks and e-commerce institutions around the world.
- With 48 percent of data security breaches across the financial services industry involving compromised web applications, the importance of validating a user not only at login but throughout a session as a way to prevent fraud, has taken on increasing urgency. BioCatch is solving the real problem of cybersecurity today, which is the human element.
- Most fraud today comes from authenticated sessions, and BioCatch represents a new and innovative approach to detecting breaches, by identifying malware, account takeovers and social engineering. The BioCatch platform spans the gamut of human behavioral profiling, malware and Remote Access Trojan (RAT) detection, and aggregator and bot detection, to provide a real-time actionable cyber risk score.
In less than 300 words, summarize the achievements of the company in the nominated category
BioCatch is a cybersecurity company that delivers behavioral biometrics, analyzing human-device interactions to protect users and data. BioCatch brings a new dimension to cybersecurity, by focusing on WHO is behind a session, not just WHAT device or password was used to access it. BioCatch works with the retail, corporate and wealth management departments of major banks around the world, primarily out of Europe and Latin America, providing continuous authentication for more than 2 billion transactions per month. Each week, customers save millions of dollars in fraud-related losses by:
– Stopping fraudulent attempts to transfer funds
– Identifying remote access Trojans during an online session
– Recognizing fraud attempts occurring across multiple channels (i.e online and mobile)
As Simon McNamara, Chief Administrative Officer of NatWest stated in a recent press release, “The technology that we’ve been able to deploy with the help of BioCatch has played a crucial role in strengthening our security systems. The breadth of behavioural biometrics that BioCatch technology can monitor is really impressive and we’ve already seen many examples of it alerting us to suspicious activity and protecting our customers from fraud.”