Latest news with #BioCatch
Techday NZ
16-05-2025
- Business
- Techday NZ
BioCatch & The Knoble launch toolkit to bolster scam defences
BioCatch and The Knoble have introduced a new toolkit to help financial institutions build a business case for scam prevention measures. The initiative includes a comprehensive resource package called "Measuring the Impact of Authorised Push Payment Scams: A Practical Framework for Financial Institutions." This package provides tools such as a cost-justification calculator, a practical guide for fraud and risk teams, and a presentation deck to assist executives in securing funding for scam-control strategies. The toolkit is designed to assist banks and other financial institutions in quantifying the true financial impact of scams, enabling them to demonstrate the return on investment for proactive scam prevention controls, as well as highlighting the ethical necessity. Emma Campbell, Director of Program Delivery, said, "Scams are not isolated financial crimes; they are deeply connected to human exploitation. Financial institutions play a critical role in disrupting human crime, and this toolkit gives them the tools to build the business case and take action." The increasing sophistication of scams has made them more than just isolated events. Organised criminal groups are often involved in wider criminal activities, including human trafficking and elder exploitation. This connection has added urgency for financial institutions to adopt more robust anti-scam measures. The toolkit draws upon financial data, global benchmarks, and real-world case studies to show how targeted investment in scam prevention can lead to cost savings, improved customer trust, and a reduction in long-term financial risks. The included cost calculator enables stakeholders to quantify scam-related losses, while the practical guide provides instructions for its use. The presentation deck is intended to support fraud leaders in advocating for funding in discussions with senior management. Seth Ruden, BioCatch Senior Global Advisory Director, commented, "Scammers today aren't only lone-wolf, individual operators. Increasingly, scams originate from industrialised complexes staffed in large part by trafficked peoples. The transnational criminal operations behind these scam camps employ a crime-as-a-service business model and harness GenAI-powered tools to improve both the sophistication and success of their attacks. Financial institutions deserve equally sophisticated scam controls. Delaying a proactive response only guarantees a future built on reactive defences." To support adoption of the business case toolkit, BioCatch and The Knoble will hold a webinar to review the toolkit's features, demonstrate the use of the cost calculator, and discuss key strategic considerations for implementing scam control measures following executive buy-in. The toolkit is available exclusively to members through The Knoble's member resource library. BioCatch applies behavioural analytics to monitor digital interactions with banking platforms, helping distinguish legitimate users from criminals by analysing patterns in device use and behaviour. The company works with clients from major global banks and financial institutions to improve fraud detection. The Knoble is a non-profit organisation established in 2019 that unites professionals from financial institutions, law enforcement, regulators, and NGOs to combat human crime, including scams, trafficking, child exploitation, and elder abuse.
Finextra
15-05-2025
- Business
- Finextra
BioCatch and The Knoble co-launch anti-scam guide and cost calculator
Financial scams are on the rise globally, resulting in billions in financial losses for both financial institutions and the individual consumers they serve. 0 The Knoble, a coalition of financial service professionals, law enforcement, regulators, and non-profit organisations dedicated to combating human crime, and BioCatch, which prevents financial crime by recognising patterns in human behaviour, are pleased to announce the release of a scams control business case: 'Measuring the Impact of Authorised Push Payment Scams: A Practical Framework for Financial Institutions.' This powerful resource package, comprised of a cost-justification calculator, a practical guide, and a strategic presentation, aims to equip financial institutions with the tools they need to build a compelling business case for proactively investing in scam-prevention controls. The initiative was developed with one goal in mind: To help banks articulate not only the ethical imperative of scam control programs but also their return on investment. 'Scams are not isolated financial crimes; they are deeply connected to human exploitation,' said Emma Campbell, Director of Program Delivery. 'Financial institutions play a critical role in disrupting human crime, and this toolkit gives them the tools to build the business case and take action.' Scams have evolved beyond isolated incidents, as organised criminal groups intertwine their scamming operations with human trafficking, elder exploitation, and a variety of other crimes. This comprehensive business case toolkit draws upon financial trends, global benchmarks, and case studies to illustrate how investing in scam prevention can yield substantial cost savings, foster customer trust, and mitigate the potential for long-term financial losses. The cost calculator helps stakeholders quantify the impact of scam losses. The accompanying guide offers clear instructions on using the calculator, while the presentation deck helps fraud leaders advocate for strategic scam control funding across the C-suite. 'Scammers today aren't only lone-wolf, individual operators,' BioCatch Senior Global Advisory Director Seth Ruden said. 'Increasingly, scams originate from industrialised complexes staffed in large part by trafficked peoples. The transnational criminal operations behind these scam camps employ a crime-as-a-service business model and harness GenAI-powered tools to improve both the sophistication and success of their attacks. Financial institutions deserve equally sophisticated scam controls. Delaying a proactive response only guarantees a future built on reactive defences.' To support the rollout of this business case, The Knoble and BioCatch will co-host an exclusive webinar on June 5, 2025, at noon ET: 'Justifying the Investment: The Business Case for Scam Controls.' The session will unpack the contents of the toolkit, walk through the calculator, and highlight key scam control strategies that become possible once buy-in is secured. The full resource package is available exclusively to members through the Knoble Network Member Center Resource Library. Not yet a member? Visit to join and gain access to this and other critical tools.
Finextra
14-05-2025
- Business
- Finextra
BioCatch names Andreas Dombret as a senior advisor
BioCatch, which prevents financial crime by recognising patterns in human behavior, today announced the appointment of Andreas Dombret as a senior advisor. 0 With more than 35 years of experience in global banking and financial regulation, Dombret brings deep expertise to support BioCatch's plans for continued growth and innovation. 'Andreas has operated at the highest levels of financial services and financial regulation,' BioCatch CEO Gadi Mazor said. 'We see his experience and perspective as invaluable additions to our team, as we continue our quest to revolutionise how the world fights fraud, scams, and financial crime.' Dombret's career spans senior leadership roles at Deutsche Bank, J.P. Morgan, Rothschild, and Bank of America. From 2010 to 2018, he served as a member of the executive board of Germany's central bank, Deutsche Bundesbank, where he led bank supervision, financial stability, and market operations. During that time, he also sat on the boards of the Bank for International Settlements and the European Central Bank's supervisory board, representing Germany at key global forums including the G7, G20, IMF, OECD, and Basel Committee. Dombret holds both German and U.S. citizenships. He currently serves as a senior advisor to several global firms, including Permira (BioCatch's majority stakeholder), Sumitomo Bank, Santander, Oliver Wyman, and Amazon Web Services. He earned his master's degree from the University of Münster and his PhD from the University of Nürnberg. He teaches finance at the European Business School in Wiesbaden and is an Adjunct Senior Research Scholar at Columbia University's School of International and Public Affairs. 'The world today is changing faster than at any point in human history,' Dombret said. 'As we watch artificial intelligence tools rapidly unravel the ways in which countless industries have functioned for generations, we must remember: Criminals, historically, are among the first to adopt new technologies like these. It is a guarantee and not a mere possibility that fraud, scams, and financial crime will continue to proliferate and evolve. Financial institutions cannot afford to merely cling tighter to the status quo. The solutions of yesterday cannot compete with the scams of the present and future. I look forward to working with the BioCatch team to help financial institutions innovate in their quest to build trust and resilience in the digital age.'
Yahoo
19-03-2025
- Business
- Yahoo
Alkami Customers Including Gate City Bank Strengthen Fraud Prevention with BioCatch
The Alkami-BioCatch partnership has prevented millions of dollars in fraudulent transactions in 2024 PLANO, Texas, March 19, 2025 /PRNewswire/ -- Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., announced today that its clients leveraging BioCatch's fraud prevention solutions through the Alkami Digital Banking Platform stopped more than $54 million in fraudulent transactions in 2024. "Alkami takes a strategic, multi-layered approach to fraud prevention, and BioCatch is a valuable component in helping financial institutions detect and stop emerging threats," said Brad Cranford, director of product management at Alkami. "By operating seamlessly in the background, BioCatch's Account Takeover Protection strengthens security without adding friction or disrupting the user experience." Fraud remains one of the most pressing challenges in financial services, with cybercriminals continually refining their tactics to gain access to consumers' and businesses' banking information through stolen credentials, social engineering, and advanced digital threats. To combat these threats, Alkami and BioCatch, which prevents financial crime by recognizing usage patterns, provide a proactive, behavior-based approach to fraud prevention, enabling financial institutions to identify and stop account takeover fraud before money disappears. "The results were immediate. BioCatch enhanced our defenses by continuously learning and adapting to customer behavior to protect against suspicious activity. This technology has been instrumental in safeguarding our customers' identities without disrupting their experience," said Jessica Ebeling, executive vice president, chief digital and payment officer at Gate City Bank. Every user interacts with their device in a unique way—through mouse movements, typing cadence, and swipe or scroll patterns. BioCatch's Account Takeover Protection analyzes these digital behaviors in real time to identify fraudsters who exhibit telltale signs of manipulation such as using keyboard shortcuts, remote access tools (RATs), or developer consoles to navigate banking sessions. By detecting these subtle yet critical high-risk actions, BioCatch helps financial institutions stop fraud before financial losses occur. "Our partnership with Alkami enables financial institutions to proactively stop fraud in real time before it impacts their members or customers," said Jay Whoriskey, north america director at BioCatch. "The $54 million in fraud Alkami customers deploying our solutions prevented last year demonstrates how BioCatch's real-time analysis of behavioral, device, and network signals helps financial institutions distinguish legitimate users from fraudsters, catching threats traditional security measures often miss." To learn more about Alkami's Digital Banking Platform, visit here. Alkami has been certified by J.D. Power for providing "An Outstanding Mobile Banking Platform Experience1." About Alkami Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the United States that enables clients to grow confidently, adapt quickly, and build thriving digital communities. Alkami helps clients transform through retail and business banking, digital account opening, payment security, and data and marketing solutions. To learn more, visit About BioCatchBioCatch prevents financial crime by recognizing patterns in human behavior, continuously collecting more than 3,000 anonymized data points – keystroke and mouse activity, touch screen behavior, physical device attributes, and more – as people interact with their digital banking platforms. With these inputs, BioCatch's machine-learning models reveal patterns in user behavior and provide device intelligence that, together, distinguish the criminal from the legitimate. The company's Client Innovation Board – an industry-led initiative in partnership with American Express, Barclays, Citi Ventures, HSBC, National Australia Bank, and others – collaborates to pioneer innovative ways of leveraging customer relationships for improved fraud detection. Today, 34 of the world's largest 100 banks and 257 total financial institutions deploy BioCatch solutions, analyzing 14 billion user sessions per month and protecting 447 million people around the world from fraud and financial crime. Media Relations ContactsVestedalkami@ Marla ____________________ 1 J.D. Power 2024 Mobile App Platform Certification ProgramSM recognition is based on successful completion of an audit and exceeding a customer experience benchmark through a survey of recent servicing interactions. For more information, visit View original content to download multimedia: SOURCE Alkami Technology, Inc. Sign in to access your portfolio
