BioCatch adds policy and case management to behavioral biometrics platform
BioCatch has updated its platform with several new behavioral biometrics products, including a Policy Manager, Case Manager, and new behavioral indicators that increase visibility into the risk score it generates, the company has announced.
Visibility into nearly 100 threat indicators and a list of factors that make up the top contributions to the risk score are included, along with specific indicators for bots, remote access attacks and other threats. Indications are sent via the API, and users can access them in the BioCatch Analyst Station.
“Online behavior creates a new data set that can indicate in real-time whether someone is who they claim to be online, providing an added layer of visibility for preventing new account fraud and account takeover fraud where the standard solutions are falling short,” comments BioCatch Chairman and CEO Howard Edelstein. “And unlike traditional two-factor authentication or physical biometrics there is no impact on the user experience since our solution operates seamlessly and invisibly in the background.”
The new Policy Manager allows financial institutions and other organizations to create and manage internal policies based on behavioral risk scores and other parameters generated by the platform, the company says. Both session-level policies and activity-level policies are supported. Case Manager can be used by security teams, fraud analysts and investigators to isolate activities and sessions for further review. It also provides analysts with information to guide action on various types of incidents to mitigate fraud, provide feedback, and generate insights for user account management. The creation of cases is controlled through integration with the Policy Manager.
BioCatch says estimates provided by customers indicate a typical yield of ten to fifteen times return on investment from its technology.
“BioCatch has now extended its platform by integrating additional elements required to understand and manage behavioral risk while protecting a session from login to logout,” says Julie Conroy, research director of Aite Group’s Fraud and AML Practice. “These added capabilities should further enhance our firms’ ability to detect fraud while not inserting unnecessary friction into the customer experience.”
A market research report early this year indicated that behavioral biometrics will grow to a $4 billion market by 2025.