Distribution deal with payments provider to supply BioCatch behavioral biometrics in ANZ
BioCatch has been selected by payments provider Indue to protect financial institutions, retailers and non-profits in Australia and New Zealand from fraud attack and cybercrime with behavioral biometrics.
Indue customers can use BioCatch’s analysis of physical and cognitive digital behavior to separate genuine users from cybercriminals for improved customer experience and reduced fraud. Indue provides end-to-end payment solutions.
“The explosion of new consumers of digital banking services over the last year has accelerated the need for technologies that can offer strong fraud protection with minimal disruption to users,” says Richard Booth, BioCatch head of APAC. “BioCatch is committed to supporting Indue’s banking customers and expanding the standard in digital banking by providing best-in-class fraud protection and seamless user experiences. We are pleased to partner with Indue to leverage behavioral biometric technology for their clients, allowing financial institutions of any size to protect their clients and provide enhanced digital user experiences.”
BioCatch’s solutions monitor user behavior throughout the account lifecycle, according to the company announcement, from origination through each online session on a continuing basis. Mouse movements, typing cadence and screen interactions contribute to the generation of a risk score, helping ensure seamless and secure digital interactions.
“We want to minimise the risk and maximise the security of online banking and embedding BioCatch’s best-in-class behavioural biometrics technology into our end-to-end payment solutions will create a seamless and safe digital experience for users,” comments Indue Chief Risk Officer Jane Hinton.
“Most importantly it will provide additional peace of mind that online transactions through Indue’s payment platforms are secure and safe from the ever-growing threats of online financial crimes.”
Behavioral biometrics are proving effective for meeting PSD2 compliance requirements, BioCatch Director of Fraud Strategy for North America Raj Dasgupta told Biometric Update in a recent interview.
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