18 February 2018
visit www.ebaday.com

Behavioural biometrics startup BioCatch raises $10m

17 June 2014  |  7347 views  |  0 Man pointing on world Icon

BioCatch, an Israeli startup that uses behavioural biometrics to authenticate visitors to banking and e-commerce sites, has raised $10 million in a funding round led by Blumberg Capital and equity crowdfunding firm OurCrowd.

BioCatch aims to eliminate passwords and authentication dongles for online banking and shopping, replacing them with a system that recognises users by how they physically use their computer or tablet.

The firm's technology collects and analyses over 400 bio-behavioural, cognitive and physiological parameters - based on how people type and move a cursor around - to create unique profiles for visitors to sites.

In addition, the system creates "invisible challenges" for visitors to sites. For example, when a user moves the cursor towards a button, they are deliberately knocked slightly off course and subconsciously have to correct in what the company says is a way unique to them.

This, argues BioCatch, is more secure than traditional authentication methods, demonstrating an 80% reduction in false positives for detecting the same amount of fraud. It also significantly reduces friction for the customer because the system automatically kicks in when they visit a site using the technology.

BioCatch says that it has signed up several unnamed banks and e-commerce sites, and that it will use the new funding to push on in North American and Europe as well as to expand R&D efforts.

Benny Rosenbaum, CEO, BioCatch, says: "This funding will allow us to continue strengthening our offering and expand our global reach in strategic markets, while keeping the world's largest and most influential institutions safe and secure."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Cartes Bancaire plans biometric payments

Cartes Bancaire plans biometric payments

16 June 2014  |  10000 views  |  1 comments | 17 tweets | 23 linkedin
Apple circles payments with TouchID

Apple circles payments with TouchID

03 June 2014  |  13650 views  |  8 comments | 28 tweets | 29 linkedin
IBM develops two-factor security for mobile devices

IBM develops two-factor security for mobile devices

21 October 2013  |  8880 views  |  0 comments | 11 tweets | 13 linkedin
MasterCard joins Fido Alliance in bid to replace passwords with biometrics

MasterCard joins Fido Alliance in bid to replace passwords with biometrics

11 October 2013  |  16098 views  |  0 comments | 12 tweets | 14 linkedin
ECB seeks to improve online payments security

ECB seeks to improve online payments security

31 January 2013  |  12008 views  |  5 comments | 12 tweets | 6 linkedin
Canadian banks to offer authentication backbone to government ID scheme

Canadian banks to offer authentication backbone to government ID scheme

07 November 2011  |  12053 views  |  5 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.swift.com/your-needs/instant-paymentsvisit http://info.nice.comVisit https://www.capgemini.com

Who is commenting?

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
10863 views comments | 16 tweets | 11 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8470 views comments | 15 tweets | 42 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8247 views 10 comments | 21 tweets | 26 linkedin
hands typing furiouslyHow can Blockchain Help with AML KYC
7917 views 3 | 9 tweets | 6 linkedin

Featured job

Find your next job