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, the system is trained on a user's biometric 'signature' so that it can compare the signature to a fraudster's on a blacklist, or to ongoing user behavior to determine whether the legitimate user is being impersonated. The use of passive voice recognition and passive gesture dynamics - that is, behavioral techniques in which user movements on a device are tracked and measured - have already proved to be very useful in the OFD market."
BioCatch is a leading provider of cognitive biometric authentication and threat detection solutions for mobile and Web applications. Available as a cloud-based solution, BioCatch proactively collects and analyzes more than 400 cognitive parameters to generate a unique user profile. Banks and eCommerce websites and mobile apps use BioCatch to significantly reduce friction associated with risky transactions and protect users against cyber threats, such as Account Takeovers, Man-in-the-Browser (MitB) Malware and Remote Access (RAT) attacks. Additionally, BioCatch provides an enterprise tool that improves the employee authentication experience while protecting access to critical IT assets. The Company was founded in 2011 by experts in neural science research, machine learning and cyber security and is currently deployed in leading banks, eCommerce sites and enterprises across North America, Latin America and Europe. For more information, please visit http://www.biocatch.com.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
i. Gartner, Market Guide for Online Fraud Detection, Avivah Litan, June 2, 2014
ii. Gartner, Cool Vendors in Security: Identity and Access Management, Ray Wagner/Avivah Litan/Earl Perkins, April 29, 2013
GK PR for BioCatch
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