BioCatch named leader in Behavioral Biometrics and Device Intelligence
MIDDLETOWN, Mass., July 25, 2024 /PRNewswire/ -- In its latest evaluation of Behavioral Biometrics and Device Intelligence vendors, leading business management consultancy Quadrant Knowledge Solutions identified BioCatch as one of its top performers, in its 2024 SPARK Matrix: Behavioral Biometrics and Device Intelligence, ranking the company as a market leader in both technological excellence and customer impact. The report stressed both the necessity and urgency of adding behavioral biometric solutions – which analyze physical behavioral patterns (mouse movements and typing speed, for example) and cognitive signals (hesitation, segmented typing, etc.) – to every financial institution's fraud stack, as advancements in generative artificial intelligence (GenAI) render cybercriminals increasingly dangerous and legacy defenses increasingly vulnerable.
"Traditional Enterprise Fraud Management (EFM) ecosystems are not prepared to deal with the dizzying array of AI-supercharged threats, including impersonation scams, authorized push payment (APP) fraud, phishing attacks, identity theft, account takeover, botnet attacks, deepfakes, and more," BioCatch Chief Marketing Officer Jonathan Daly said. "Financial institutions must evolve and adapt to track and analyze the one thing machines and their cybercriminal handlers cannot fake: legitimate human behavior."
Quadrant Knowledge Solutions based its SPARK Matrix evaluation on research with expert interviews, analysis of use cases, and Quadrant's internal analysis of the overall Behavioral Biometrics and Device Intelligence market.
"BioCatch is a global leader in Behavioral Biometrics and Device Intelligence solutions," Quadrant Knowledge Solutions Research Analyst, Shivam Natani said. "The BioCatch Connect platform is leveraged by a multitude of global financial institutions to solve for use cases such as account opening and account takeover protection, mule account detection, and social engineering scam detection. BioCatch distinguishes itself in the global Behavioral Biometrics and Device Intelligence market by providing differentiated offerings such as patented behavioral biometrics technology, comprehensive fraud telemetry collection, a robust data consortium, and multi-machine-learning models. Additionally, BioCatch offers powerful visualization tools for effective fraud analysis and decision-making."