Our Swipes, Ourselves: This Startup Prevents Identity Fraud By Observing Device Interactions

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Israeli-based company BioCatch can catch identity thieves by the way they type and swipe by TheAlexKnapp

Data breaches seem to happen so often these days that we’re almost numb to them, but they’re a big problem for the finance industry, which loses billions to fraud and identity theft every year. The Israeli machine-learning firmthinks it has a better solution. It turns out that the way you swipe, type and otherwise interact with your phone, tablet and laptop are unique to you—nobody else could use your devices in quite the same way.

BioCatch’s technology can analyze that behavior and determine whether it’s you or a ne’er-do-well accessing your account or applying for a loan. Bonus: It quietly enhances security without adding yet more complications to the user experience. The company has big believers in the financial world, including ACI Worldwide, American Express and the Royal Bank of Scotland. Investors like what they see, too: BioCatch has raised more than $40 million since its 2011 founding.

Source: News Formal (newsformal.com)

 

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