BioCatch has been awarded a major industry accolade: The company won “Best Innovation in Securing Transactions” at the European Payments Summit’s Florin Awards. And what’s more, the winner was chosen both by a jury of industry experts and a public vote.
The award was of course bestowed in recognition of BioCatch’s eponymous behavioral biometrics solution for mobile authentication. The system is designed to assess over 2,000 metrics, largely pertaining to how a given user interacts with a device, in order to establish a user profile based on behavioral patterns that can be used for authentication. With its integration into Samsung SDS’s NexSign mobile authentication platform, for example, the system runs continuously in the background during an authenticated user session, and if suspicious activity is detected, it will trigger an additional authentication mechanism to ensure that the legitimate user is still in control of the device and the session.
It’s this kind of sophistication that helped BioCatch to beat ten other nominees in its Florin Awards category; and it also helped to bring in $30 million in BioCatch’s latest round of financing, announced just a few weeks ago. Commenting on the former in a statement acknowledging the award win, BioCatch CEO Howard Edelstein said, “We are honoured to have received this recognition and are committed to working with our customers and partners to increase the adoption of behavioural biometrics market-wide.”
(Originally posted on FindBiometrics)