BioCatch Mobile biometric authentication app now out of beta
BioCatch announced that its BioCatch Mobile – which provides both authentication and threat detection across mobile banking platforms – is now out of beta.
BioCatch first launched the eCommerce fraud prevention solution in beta back in May.
The mobile app provides complete authentication and threat detection capabilities that protect users against fraud attacks while providing an intuitive experience.
The app’s authentication function generates a cognitive biometric signature which factors in a range of physiological qualities, including left/right handedness, press-size, hand tremor and eye-hand coordination, as well as cognitive traits like usage preferences and device interaction patterns.
The mobile app also takes into account contextual factors such as device ID, device preference, network access and geo-location.
Additionally, BioCatch Mobile’s threat detection capability uses cognitive behavioral analysis and other methods to pinpoint the usual symptoms of account takeover and live malware manipulation threats against mobile applications.
The threat detection function can distinguish among the many types of “Man-in-the-Mobile” and remote access attacks, risk interdictors such as jailbroken/rooted devices, and behavior associated with criminal modus operandi.
“BioCatch Mobile was developed specifically to assist banks in mitigating the risks associated with the mobile channel, allowing them to add new functionality without admitting new fraud or creating new friction,” said BioCatch CEO Benny Rosenbaum. “What makes our solution so unique is the fact it’s completely transparent, works behind the scenes, and yet is far more secure than traditional two-factor authentication as it goes beyond what the user knows or has.”
The company will be hosting a free webinar on September 18 entitled “Who’s Afraid of Mobile Fraud?” that will address how mobile behavior can protect mobile accounts and how to decrease friction while maintaining customer satisfaction.
BioCatch will also publish a white paper on the same topic on its website.
To learn more about BioCatch, read our interview with BioCatch’s vice president of product management.