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BioCatch and Experian Form Partnership

BioCatch and Experian Form Partnership

Screen Shot 2017-04-10 at 8.22.20 AM

Israel-based BioCatch and information services giant Experian teamed up today. The partnership will allow Experian to leverage BioCatch’s behavioral biometrics technology to prevent new account fraud for CrossCore users.

Screen Shot 2017-04-10 at 9.29.14 AMDebuted at FinovateFall 2016, CrossCore enables organizations to integrate technology from multiple fraud and identity solutions providers into a single API to reduce friction and false positives. BioCatch’s biometrics technology will help organizations identify fraudsters, even if they enter stolen information.

In the press release, BioCatch CEO Eyal Goldwerger said that BioCatch is helping Experian “[provide] a completely new layer of security using behavioral biometrics by focusing on ‘how’ a user enters information into an application, not ‘what’ information is being entered, in a seamless way that does not add any friction to the application process.”

BioCatch works by mapping user behavior during the onboarding process to distinguish between normal user behavior and fraudster behavior. For example, while a consumer is filling out a credit card application, BioCatch detects patterns such as the speed and/or cadence of keystrokes. Targeting anomalies in user behavior helps catch a fraudster even if all of the information is correct.

BioCatch was founded in 2011 and now monitors 2+ billion transactions per month for a number of major bank clients. At FinovateFall 2014, the company showed off Invisible Challenges. BioCatch was recently ranked number 19 in Planet Compliance’s Regtech Top 100 Power List. Earlier this year, the company teamed up with Nuance Communications to power continuous authentication for Nuance Security Suite solution.

Headquartered in Dublin, Ireland, Experian recently received authorization from the Financial Conduct Authority, an organization responsible for regulating consumer credit agencies in the U.K. Last month, the company joined the Marketplace Lending Association to drive responsible fintech innovation.