BioCatch, a global provider of behavioural biometrics solutions, has announced that four major global banks have invested USD 20 million in the company.
Thus, the funding from Barclays, Citi, HSBC, and National Australia Bank (NAB) extends the company’s recent Series C fundraising round to a total of USD 168 million raised. In conjunction with the funding, the biometrics company has established the BioCatch Client Innovation Board.
The invitation-only Innovation Board will be a collaborative forum where members will meet regularly to develop new, creative, and cutting-edge ways to leverage and scale the unique attributes of behaviour. The four investing banks and long-time BioCatch investor American Express Ventures will each be allocated two seats on the Client Innovation Board.
One of the board’s key focus areas will be on the development of advanced solutions that stay ahead of online fraud, which has proliferated since the advent of the coronavirus. BioCatch Client Innovation Board members will also work closely with each other and with the company to explore how collaboration and network effects can effectively combat online fraud and identity theft at an industrywide level.
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