BioCatch raises USD 10 million in investment round

Tuesday 22 July 2014 14:12 CET | News

BioCatch, an Israel-based payment security services company, has raised USD 10 million in a Series A funding round that includes Blumberg Capital, reports.

Company officials inform that BioCatch software helps clients detect threats by analyzing consumers’ behavior on desktops or mobile devices, such as mouse movements or keyboard types in a regular internet browsing experience.

Detecting such patterns enables BioCatch to build a profile for that user that can then be used to protect against fraud, on the theory that a criminal would type differently or hold the phone at a different angle when trying to access another person’s account or hijacking another person’s online identity.

Additionally, such a profile could be used by a retailer client to help detect when a legitimate consumer is accessing an account from a different or new computing device.

Company officials explain that BioCatch implements the behavioral biometric signature that is associated with the user profile in preventing fraudulent attacks to customer accounts and that any deviation from the behavioural biometric signature is taken for a possible threat.

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Keywords: BioCatch, investment round, Series A funding, online fraud, biometric behaviour, online identity, e-identity
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime

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