BioCatch, a leading fraud detection solution provider, has announced its global expansion of behavioral biometric intelligence solutions in partnership with Microsoft. The new offering now includes Microsoft’s Cloud for Financial Services (FSI Cloud) to deliver differentiated experiences, combat financial crime, and empower employees.
BioCatch has been collaborating with Microsoft since 2011 to provide effective and comprehensive anti-fraud support to banks. Through Microsoft Cloud for Financial Services, BioCatch can extend further protection for banks transitioning to cloud-based operations to provide a frictionless digital experience for their consumers.
The financial services industry is increasingly moving to cloud-based operations, which is becoming a larger problem, and threat actors are looking to exploit cloud vulnerabilities and scam consumers. BioCatch provides necessary and effective solutions for financial institutions to grow in the right direction while ensuring their customers’ accounts are kept safe.
BioCatch and Microsoft provide consumer protection against fraud through BioCatch’s behavioral biometrics software and Azure’s intelligent banking platform. The two companies have been great partners in protecting M&T bank’s customers from harmful fraud attacks.
According to Aaron Steinitz, Director of Enterprise Fraud Policy and Governance at M&T, the visibility they get into the data by leveraging BioCatch’s technology via Microsoft Azure enables their fraud teams to swiftly address complex fraud attacks and reduce manual reviews, giving their customers better protection and an improved experience.
One of the key elements of BioCatch’s technology now being available for Microsoft Cloud for Financial Services is that financial services organizations can purchase BioCatch’s solutions through Azure Marketplace. This accessibility enables them to seamlessly combine their transition to cloud-based financial operations with a proven behavioral biometrics solution that can analyze billions of sessions per month for its users.
Through BioCatch’s behavioral biometrics solution, financial institutions who use Azure can streamline fraud detection capabilities with global cloud scaling, keeping pace with the needs and demands of any cloud strategy financial institutions seek to deploy in Azure.
“We’re pleased that BioCatch is tapping into the power of Microsoft Cloud for Financial Services to help financial institutions unlock business value and deepen customer relationships,” said Bill Borden, Corporate Vice President, Worldwide Financial Services, Microsoft. “We look forward to the enhanced opportunities this will bring to our joint customers, helping empower fraud and risk teams with behavioral biometric intelligence to act quickly while also giving consumers a safer and frictionless digital banking experience.”
BioCatch’s fraud prevention solution also keeps financial business operations in compliance with protection measures and digital safety requirements. With over a decade of analyzing data, more than 80 registered patents, and unparalleled experience, BioCatch continues to innovate to solve tomorrow’s problems.
BioCatch counts more than 25 of the top 100 global banks as customers who use BioCatch solutions to fight fraud, drive digital transformation and accelerate business growth. The company’s Client Innovation Board, an industry-led initiative including American Express, Barclays, Citi Ventures, and National Australia Bank, helps enable BioCatch to identify creative and cutting-edge ways to leverage the unique attributes of behavior for fraud prevention.
BioCatch’s mission is to unlock the power of behavior and deliver actionable insights to create a digital world where identity, trust, and ease seamlessly co-exist. For more information, please visit www.biocatch.com.