BioCatch Teams Up with Nuance Communications

BioCatch Teams Up with Nuance Communications

Screen Shot 2017-02-14 at 9.59.03 AM

Behavioral biometrics solutions company BioCatch announced a partnership with Nuance Communications this week. Through the partnership, Israel-based BioCatch will leverage consumer behavior to power continuous authentication for the Nuance Security Suite solution.

BioCatch’s technology builds a profile for users that consists of how they use their keyboard, mouse, or mobile phone screen. When the system detects anomalies within a client’s session, it generates an alert that signals the user may be a fraudster. This fraud prevention solution will be available through Nuance’s FraudMiner interface and to help banks to more accurately detect fraud across channels.

In the press release Eyal Goldwerger, CEO of BioCatch said, “In today’s digital world, hackers have figured out how to bypass the initial authentication and piggyback on existing logins,” he added, “One of the only ways to detect
this is through continuous authentication and by extension, behavioral biometrics, because it works in the
background, passively, without disrupting the user experience. By bringing together our behavioral biometrics
and Nuance’s voice biometrics, we are able to solve this problem and secure transactions holistically across
multiple channels.”

After the user logs into a session, BioCatch can accurately detect fraud that comes from malware, account takeovers, and social engineering. Since these methods can be very difficult to detect using traditional fraud detection methods, Nuance anticipates that the addition of BioCatch’s technology will augment the immediate return on investment for its clients.

Founded in 2011, BioCatch demonstrated its Passive Biometrics and Invisible Challenges at FinovateFall 2014 in New York. In late 2016, the company launched an enterprise version of its behavioral biometrics platform and in April, BioCatch appointed Eyal Goldwerger as CEO.

Finovate Alumni News

On Finovate.com

  • BioCatch Teams Up with Nuance Communications.

Around the web

  • Worldcore Payment Institution teams up with BioID and presents face recognition authentication at FinovateEurope 2017.
  • Standard Chartered launches banking API portal.
  • Tink now helps banks empower their customers to take control over their finances by leveraging the Tink platform.
  • NetGuardians joins Swiss academic institute HEIG-VD to develop fraud-seeking AI tools.
  • BioCatch brings continuous online and mobile authentication to Nuance Communications’ Security Suite solution.
  • Wealth Wizards launches New mobile version of Pension Wizard.
  • Virtual Piggy launches beta test of its mobile payment platform for children under 17.
  • iSignthis enters agreement to provide KYC services to Calforex and GoInterpay.
  • The Beast Apps joins Symphony Software Foundation.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • “P2P Lender Zopa to Launch Challenger Bank”
  • “Finovate/FinDEVr Alums Featured Among Monitise FINkit Platform Partners”
  • “Veridium Brings Hand Recognition Authentication to Mobile-Only Dutch bank, bunq”

Around the web

  • Co-founder of Markit, Rony Grushka, joins Algomi’s board of directors.
  • FinDEVr alum Quovo launches its account-authentication API.
  • Juvo teams up with Cable & Wireless to provide mobile credit services in the Caribbean.
  • Mastercard partners with Ratnakar Bank to launch Masterpass QR in India.
  • Thomson Reuters unveils its Thomson Reuters Pricing Service Evaluation Score (TRPS) to support pricing transparency.
  • LendingTree acquires credit card comparison and education provider, CompareCards.
  • Pirean wins security innovation of the year at the U.K.’s 2016 IT Industry Awards.
  • SafetyPay to power payment solutions for Payzoff.
  • NatWest deploys BioCatch behavioral biometrics technology.
  • Boku provides direct carrier billing in Japan for Spotify.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

Around the web

  • New Xendpay Business services provides SMEs with”pay what you want” option for international money-transfer fees.
  • BioCatch upgrades behavioral biometrics offering to enhance online and mobile performance in the enterprise.
  • Neustar unveils Fraud Detection Solutions product to help integrate multiple identify-verification ecosystems.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Avalara Unveils Enhanced Compliance Document Management Solution, CertCapture
  • Alpine Data Partners with Pivotal to Bring Smart App Building Blocks to Businesses

On FinDEVr.com

  • GreenKey Launches Design Partner Program

Around the web

  • GreenKey launches Design Partner Program with interdealer brokers, Tradition and Tullett Prebon.
  • iSignthis inks card-acquiring and -settlement partnership with National Australia Bank.
  • ACI Worldwide hosts “Coding for Girls” camp.
  • Transfers from Brazil now live on TransferWise.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alums Help Represent Fintech Innovation in Israel

Finovate Alums Help Represent Fintech Innovation in Israel

Israel_FlagPYMNTS.com published an interesting, metric-based post on the tech scene in Israel. The post emphasized that while the country has a well deserved reputation as a “cybersecurity hotspot,” it is also true that “Israel’s tech ambitions and prowess extend much further.”

The salient statistic for me: 430—the number of fintech startups headquartered in Israel—is highly impressive, considering only 90 fintech startups existed in 2009.

With that in mind, here’s a look at some recent Israel-based Finovate alums who are helping make the country one of the world’s key locations for fintech innovation.

Our 14 Israel-based Finovate alums have raised more than $164 million in funding. Two alums—NICE Systems and Top Image Systems—are publicly traded on the Nasdaq, and two more—Capitali.se and TipRanks—have won Best of Show awards.

TheFloor_Israelfintechhub

There’s no doubt the fintech in Israel is on the move. The country’s first fintech hub, The Floor, was launched in 2015, and as of March 2016 is now located at the Tel Aviv Stock Exchange. Writing about why fintech innovation is thriving in Israel, VentureBeat’s Avi Zeevi of Carmel Ventures highlighted a few key features:

  • Mastery of relevant technologies such as real-time analytics, cybersecurity, and risk management
  • Legacy of success creating a “startup ecosystem (with) massive amounts of knowledge”
  • The country has learned from other key global financial centers
  • Global financial institutions have a presence and have been investing in Israel
  • Israeli FIs “have always been open to innovation”

“All of this had led to a dramatic rise in investments in Israel fintech companies,” Zeevi wrote. “By addressing the needs of both developed and emerging markets, Israeli fintech will only continue to grow.”

Are you an Israel-based Finovate or FinDEVr alum that we overlooked? Send us an email at research@finovate.com and we’ll update our roster.

 

 

Finovate Alumni News

On Finovate.com

  • “Money Transfer Company Azimo Pulls in $15 Million in Strategic Funds from Rakuten”
  • “From Billpay to Blockchain: The Themes of FinovateSpring”
  • “Finovate Debuts: myInvenio Turns Data Analysis into Process Intelligence”

On FinDEVr.com

  • “GreenKey Technologies Names Richard Garnier as Chief Revenue Officer”

Around the web

  • Klarna moves beyond ecommerce to service brick-and-mortar retail shops.
  • CSI GlobalVCard partners with Cambridge Global Payments for x-border payment solution.
  • Pershing selects Invesco-owned Jemstep, SigFig as roboadviser partners.
  • OurCrowd interviews BioCatch CEO Eyal Goldwerger. Check out OurCrowd at FinovateSpring next week.
  • OnDeck, Kabbage, and CAN Capital team up to form the “Innovative Lending Platform Association.”
  • Misys wins Best Portfolio Management Software Provider in HFM European Services Awards for 2016.
  • Thomson Reuters unveils new version of its ONESOURCE tax solution for companies doing business in Brazil.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

BioCatch Appoints Eyal Goldwerger as CEO

BioCatch Appoints Eyal Goldwerger as CEO

BioCatchHomepage

BioCatchCEO2016Behavioral biometrics threat-detection company BioCatch has selected Eyal Goldwerger to take the place of Benny Rosenbaum as CEO. The new appointment, the company states, is to guide BioCatch through a time of “significant growth” now that the company has signed several of the world’s largest banks as clients.

Goldwerger comes to the Israel-based company with experience as CEO of TargetSpot and XMPie, both of which have been successfully acquired. He is currently a chairman on the board of Ufora, an open-source software company, and serves as a board member of Galil Software, an R&D and Q&A outsourcing company.

BioCatch’s behavioral analytics helps prevent fraud by tracking how users interact with web and mobile applications. Throughout a client’s session, BioCatch posts what it calls Invisible Challenges that authenticate without interfering with the user experience.

At the close of 2015, the company reported that its behavioral biometrics authentication is monitoring more than 1 billion transactions per month to protect more than 33 million banking customers around the globe.

Founded in 2011, BioCatch debuted Invisible Challenges at FinovateFall 2014.

Finovate Alumni News

On Finovate.com

  • “BioCatch Appoints Eyal Goldwerger as CEO”
  • Check out this week’s FinDEVr APIntelligence.
  • “CUneXus to Power Digital FCU’s Mobile Lending Platform”— Come see a live demo from CUneXus at FinovateSpring next month.
  • “Where Are They Now: FinovateSpring Alums Raise More Than $326 Million in a Year”

On FinDEVr.com

  • “EVO and Verifone Partner to Make EMV Payments Feasible at Restaurants”

Around the web

  • Celent recognizes EdgeVerve Systems as one of two model bank vendors for 2016.
  • Virtual StrongBox granted third patent which allows users to select, view and store private documents on mobile devices.
  • Larky powers the GoLocal rewards app from St. Helens Community Credit Union.
  • Polish startup Atsora wins global Emirates NBD Group FinTech Challenge 2016.
  • National Bank of Canada deploys TickVault big-data platform from TickSmith.
  • ICBC Standard Bank chooses client lifecycle management platform from Fenergo.
  • Infosys Finacle announces its first core banking platform client in Myanmar: Asia Green Development Bank.
  • Fiserv teams up with Cisco to help banks improve customer engagement and internal collaboration via improved communications technology.
  • Jack Henry sells its deposit-automation business to Battery Ventures, a U.S./Israeli venture capital firm.
  • ACI Worldwide hires new SVP for business development, Hannes van Rensburg.
  • Temenos’ T24 core banking system goes live at Bermuda Commercial Bank.
  • Zooz integrates eCommerce, CRM, enterprise resource planning (ERP), and other payment solutions from Nodus Technologies into its platform.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Zopa launches three new loan products: Classic, Access, and Plus, expanding ability to lend to higher risk borrowers.
  • Envestnet | Yodlee teams up with South African API marketplace, Limitless.
  • “PayActiv raises $9 million in Series A”
  • “Modo Payments closes $2 Million in Funding”

Around the web

  • BioCatch announces real time detection of Remote Access and RAT-in-the-Mobile (RitM) malware.
  • PayPal unveils redesign of its Android and iOS mobile apps.
  • eToro partners with Sberbank to bring its social trading network to Russian investors.
  • News America Marketing and Linkable Networks announce partnership deal.
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  • InforcePRO adopts DTCC’s IR&S Solution to link with Carrier Partners.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • “Lighter Capital closes $9 Million Series B Funding Round, Raises $100 Million to Lend to Tech Startups”
  • “Dwolla Helps Seamless Deploy its Mobile Wallet in the United States”

Around the web

  • PYMNTS records 2015 payment-trend insights from multiple Finovate and FinDEVr alums.
  • Arroweye featured in Credit Union Journal.
  • Kantox brings free and automatic SWIFT messages to its clients.
  • Dealstruck and Lendio release eBook.
  • The Growing Business Awards names Zopa the Growing Business of the Year in the small business category.
  • American Banker highlights how Tesobe’s Open Bank Project is working toward an API-based banking model.
  • Markit and CLS unveil new streamlined process for cross-currency-swaps settlement.
  • Let’s Talk Payments looks at Klarna and its unconventional approach to authentication.
  • FIS closes SunGard acquisition.
  • BioCatch adds Gadi Maier and Howard Edelstein to its board of directors.
  • Comarch implements Field Service Management solution for receivables management specialist, the KRUK Group.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • “Finovate Debuts: DarcMatter Shines a Light On Alternative Investments”
  • “BBVA’s Wallet App Tops One Million Downloads; Goes Live in Turkey This Week”

Around the web

  • Magnify CU partners with Insuritas to launch an insurance agency.
  • Worldpay employees evaluate use of finger-vein technology to authenticate payments at the POS without need for a card.
  • mydesq selects Encap Security to boost productivity and engagement for wealth managers.
  • Let’s Talk Payments interviews Brent Warrington, Hyperwallet CEO.
  • MasterCard announces Ed McLaughlin as new chief information officer.
  • VentureBurn highlights Entersekt: SA’s fintech gem making it safe for millions to bank, shop online.
  • Algomi’s Honeycomb named “Product of the Year” and “Best Buy-Side Newcomer” in Waters Technology’s Buy-Side Technology Awards.
  • The Next Web profiles BioCatch, a biometric security specialist.
  • FusionWire looks at ways that banks can use Matchi to build relationships with fintech startups.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.