BOSTON, July 23, 2014 /PRNewswire/ --
BioCatch, the global leader in cognitive biometric authentication and threat detection, announced today it has been named in Gartner's Market Guide for Online Fraud Detection[i]. The Market Guide replaces Gartner's well-known Magic Quadrant for Web Fraud Detection.
In the report, Gartner categorized BioCatch as one of several vendors to deliver passive biometric analysis and predicted, "By 2017, passive biometric analysis will become a standard feature of at least 30% of one-stop fraud detection solutions - up from less than 1% today." Passive, or transparent, biometrics is done behind the scenes and does not require the active participation of the user - making it completely frictionless.
BioCatch transparently authenticates visitors to banking and eCommerce sites by proactively collecting and analyzing over 400 bio-behavioral, cognitive and physiological parameters, including responses to subtle hidden challenges, thereby significantly reducing friction associated with risky transactions and identifying users exhibiting behaviors consistent with fraudsters.
"We are very pleased to be included in Gartner's respected Market Guide for Online Fraud Detection (OFD)," said BioCatch CEO and Founder Benny Rosenbaum. "BioCatch works hard to provide our banking and eCommerce customers with the very best biometric authentication and fraud prevention solution, and we believe inclusion in this report, as well as the recognition we received in 2013 as a Gartner Cool Vendor[ii], is a good indicator that we are providing the industry with an innovative and much-needed technology. "
The Market Guide defined passive biometric analysis as, "done 'behind the scenes' and is transparent or unknown to the user (unless an organization chooses to tell the user it is occurring). There is no user enrollment necessary. Over time, t
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