June 8, 2016 -
BioCatch has integrated additional Microsoft Azure capabilities into its behavioral biometrics technology, which further improves its ability to detect and combat financial fraud at global banks and ecommerce sites.
Currently, the behavioral authentication and malware detection firm monitors over one billion transactions per month across a range of use-cases, including account takeover, high-risk transaction, same-day payments and new account fraud.
To accomplish this, BioCatch leverages Azure to help power its full range of behavioral biometric-based capabilities.
“Microsoft Azure has given our technology teams the ability to create, iterate and rework our platform to fit the specific needs of our varied customers around the world,” said Tal Moyal, vice president of R&D at BioCatch, “and will continue to play an increasingly important role for BioCatch as we build out our capabilities.”
Detecting new account fraud in retail banking, credit card, ecommerce sites and other online payment portals is particularly difficult, considering that most fake accounts can only be spotted weeks after they are initially opened.
Aside from detecting fraud during the account initiation process, BioCatch’s behavioral biometrics technology can help organizations implement a more seamless and faster onboarding process for their customers.
“Microsoft Azure is a cloud computing platform that empowers innovative startups like BioCatch which in turn helps to protect 33 million users,” said Nicole Herskowitz, senior director of product marketing for Microsoft Azure at Microsoft Corp. “We look forward to continued collaboration with BioCatch as they build out their Behavioral Authentication and Malware Detection solutions.”
Previously reported, BioCatch recently appointed Eyal Goldwerger as CEO.