BioCatch COO takes CEO role to continue behavioral biometrics expansion
Former CEO Howard Edelstein will continue serving as the chairman of BioCatch’s Board of Directors, returning to a similar advisory board to the one he held prior to taking the CEO position. That role includes partnering with key customers and BioCatch’s Client Innovation Board, according to the company announcement.
Mazor has served as BioCatch COO for four years, during which he has worked to accelerate the company’s global growth and consolidate its position in the behavioral biometrics market. He has also served as CEO of SaaS companies providing OCR, voice recognition and wireless communications.
“I’ve been fortunate to have had a front row seat to watch BioCatch’s platform protect consumers and organizations of all sizes from some of the greatest digital threats to date” states Mazor. “Howard has been an incredible mentor to me and our team, and he will continue to be an invaluable asset to BioCatch and our investors and customers as Chairman as we continue to experience rapid adoption. Criminals are tireless. They are constantly innovating new methods of online fraud and scams, and BioCatch’s category-defining behavioral biometrics technology continues to stay multiple steps ahead of them with the use of machine learning to analyze millions of different behavioral points simultaneously to combat fraud and identity theft. We remain focused on our customers and will continue to power their clients’ secure and seamless digital experiences.”
Mazor also holds several patents related to wireless communications.
Edelstein steps down from the CEO position having grown BioCatch’s customer portfolio from a handful of clients to more than 50 of the largest financial institutions in the world.
“Over the past five years, Edelstein and Mazor have proven to be incredibly effective in growing both the capabilities and client base for BioCatch” says Dewey Awad, managing director at Bain Capital, a lead investor in BioCatch. “Their work has helped change industry expectations for what behavioral biometrics could do when applied to cyber security. We are highly pleased that we are keeping this team together and look forward to their success in moving the ball forward in the years to come.”
A report recently released by BioCatch indicates that two out of three financial institutions are planning to increase their investment in fraud management resources.