16 August 2017
visit www.avoka.com

Behavioural biometrics startup BioCatch raises $10m

17 June 2014  |  7190 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  |  9700 views  |  1 comments | 17 tweets | 23 linkedin
Apple circles payments with TouchID

Apple circles payments with TouchID

03 June 2014  |  13212 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  |  8706 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  |  15847 views  |  0 comments | 12 tweets | 14 linkedin
ECB seeks to improve online payments security

ECB seeks to improve online payments security

31 January 2013  |  11789 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  |  11881 views  |  5 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.worldpaymentsreport.comvisit www.dorsum.eu

Top topics

Most viewed Most shared
hands typing furiouslyBI and Analytics - A New Perspective
10957 views 0 | 2 tweets | 12 linkedin
Coinbase raises $100mCoinbase raises $100m
10083 views comments | 14 tweets | 14 linkedin
DBS Bank launches online car selling marketplaceDBS Bank launches online car selling marke...
9427 views comments | 13 tweets | 11 linkedin
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
9187 views comments | 8 tweets | 15 linkedin
HSBC automates documentary trade processing with IBMHSBC automates documentary trade processin...
8291 views comments | 6 tweets | 21 linkedin

Featured job

Find your next job