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Digital Identity, Security & Online Fraud

BioCatch partners seven LATAM banks to protect them against cyberattacks

Tuesday 30 October 2018 | 08:29 AM CET

BioCatch has announced that it has expanded its reach in Latin America by partnering with seven tier-one banks based in Brazil, Chile, Colombia and Mexico. 

BioCatch's technology validates users by who they are via their interactions with an online application, rather than by what they know (e.g., passwords or security questions). At its core, the system analyzes more than 2,000 behavioural profiling metrics during a session to differentiate a genuine user from a human imposter, bot or malware. Once a user logs onto an online session, the system is able to recognize if the session has been hijacked, generating a risk score that is used by the bank to determine whether to reject a transaction or escalate for further authentication

The technology is being used more broadly to help manage digital identity across the banking ecosystem, from digital onboarding to authentication and continuous fraud prevention inside an online session. In Latin America alone, BioCatch works with seven top-tier banks, covering over 25 million online and mobile users that collectively process 300 million transactions a month.

BioCatch is a cybersecurity company that delivers behavioural biometrics analyzing human-device interactions to protect users and data. For more information about this company, please check out a detailed profile in our web fraud & e-identity database.

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