Fraud detection firm BioCatch said that it has globally expanded its behavioral biometric intelligence solutions in partnership with Microsoft.
The company’s solutions are available now as an offering for Microsoft’s Cloud for Financial Services (FSI Cloud).
Founded in 2011, BioCatch examines online users’ physical and cognitive digital behaviour to protect individuals online by utilising technology built upon machine learning.
The company has started working with Microsoft since 2011 to deliver anti-fraud support.
Through Microsoft Cloud for Financial Services, BioCatch aims to expand further protections for banks migrating to cloud-based operations to offer a secured and seamless digital experience for clients.
BioCatch chief operating officer Eyran Blumberg said: “As banks and fintech businesses take their operations to the cloud, threat actors looking to exploit cloud vulnerabilities and scam the consumer become a larger problem.
“BioCatch is proud to provide the necessary and effective solutions for financial institutions to continue growing in the right direction, with the important understanding that their consumer accounts are kept safe.”
Microsoft Cloud for Financial Services offers capabilities to provide unique experiences, engage employees, and prevent financial crime along with enhancing security, compliance, and interoperability.
Through the partnership, BioCatch and Microsoft seek to allow consumer protections against fraud through the former’s behavioural biometrics software and Azure’s intelligent banking platform. This highlights the effect that solution alignment had with financial institutions for more than a decade, said BioCatch.
One of the main aspects of BioCatch’s technology now being available for Microsoft Cloud for Financial Services is the ability for financial services organisations to buy the company’s solutions through Azure Marketplace.
Besides, the accessibility will allow financial firms to easily integrate their transition to cloud-based financial operations with a proven behavioural biometrics solution, said the fraud detection firm.
Furthermore, Azure can deliver improved risk management and protection for customers through a frictionless user experience.
Microsoft worldwide financial services corporate vice president Bill Borden said: “We’re pleased that BioCatch is tapping into the power of Microsoft Cloud for Financial Services to help financial institutions unlock business value and deepen customer relationships.
“We look forward to the enhanced opportunities this will bring to our joint customers, helping empower fraud and risk teams with behavioral biometric intelligence to act quickly while also giving consumers a safer and frictionless digital banking experience.”
