FB pixel

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

 

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.

Article Topics

 |   |   |   | 

Latest Biometrics News

 

Mastercard aims to deliver digital identity, access for 100M in Africa

Mastercard is doubling down on spreading its Community Pass, a digital platform that holds a digital ID and wallet in…

 

DPI critical to effective digital transformation in government

Robert Opp, chief digital officer of UNDP emphasizes the importance of viewing DPI as the digital equivalent of physical infrastructure,…

 

Age verification comes to social media as age of unregulated use nears an end

If trends continue, social media is set to follow in the path of cigarettes: an activity benefitting early from lax…

 

AI can save UK govt £40B annually, revolutionize public services: Blair Institute

AI will soon be used to pre-check applications for correct information, triage cases by calculating complexity and routing them appropriately,…

 

Papua New Guinea completes national data protection and governance policy

The Ministry of Information and Communications Technology has announced the completion of the national data protection and governance policy, marking…

 

Interpol issues call for biometrics firm to provide mobile data collection devices

Interpol has issued a tender for mobile ​​biometric collection (MBC) devices for collecting fingerprints and facial images. Specifically, the project…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events