Payments provider ACI Worldwide partners with BioCatch to reduce fraud with behavioral biometrics

Dec 11, 2018, 1:07 pm EST | Chris Burt

Real-time payments and banking services company ACI Worldwide is leveraging behavioral biometrics from BioCatch to prevent online and mobile banking fraud.

ACI Worldwide provides electronic payment services to more than 5,100 organizations worldwide, and will integrate BioCatch’s technology with the existing machine learning and advanced analytic capabilities of its UP Payments Risk Management solution, according to the announcement. BioCatch introduces subtle “invisible challenges” to acquire additional behavioral data and analyze the way users interact with online applications and mobile devices.

“As online and mobile banking proliferates, fraudsters are consistently finding new ways to infiltrate banks’ systems, creating havoc for consumers and businesses alike,” said Avi Turgeman, chief technology officer and founder, BioCatch. “By using behavioral data to distinguish between a genuine customer and a fraudster – whether human or non-human – we are able to detect fraudulent activity in real-time and protect consumers.”

Turgeman also says BioCatch’s technology provides a significant and measurable ROI through reduced fraud losses, lower operational cost, and better customer service.

ACI Worldwide Global Director of Payments Intelligence & Risk Solutions Cleber Martins notes that it is difficult to keep up with new and emerging threats, including account takeover, social engineering, and bots and provide an enriched user experience.

“By providing banks with cost-efficient access to behavioral biometrics technology from BioCatch, and expanding the powerful enterprise risk management eco-system from ACI, banks can further promote safety and loyalty through the online relationship with their clients, and rest assured that their important assets are being protected on every channel,” Martins explains.

BioCatch recently argued that the success of synthetic identity fraud has rendered static identity-proofing elements worthless.