• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

BioCatch Makes Big LATAM Play with Seven New Bank Partnerships

October 29, 2018

“We have experienced first-hand the significant return on investment that BioCatch provides and this comes from not only catching the fraud that traditional solutions miss, but from reducing the operational costs and lost customer revenue that comes from too much disruption in the digital channel.” -Rodrigo Colossi, IT Superintendent, Itau Unibanco

BioCatch Makes Big LATAM Play with Seven New Bank PartnershipsBehavioral biometrics specialist BioCatch has dramatically extended its reach in the Latin American market with the announcement of partnerships with seven major banks.

The clients span across Brazil, Chile, Colombia, and Mexico, with BioCatch referring to them in an announcement as “tier-one banks”. The company also noted that its new crop of clients serves over 25 million online and mobile users, and that they collectively process 300 million transactions a month.

That presents a huge set of opportunities for BioCatch to reduce fraud with its behavioral biometrics technology, which uses patterns in users’ interactions with their devices and banking apps to determine the likelihood that a given session involves a fraudster.

In a statement announcing the partnerships, BioCatch Vice President for Latin America Oren Kedem explained that in the LATAM region, “fraud rates are very high and the vast majority of cybersecurity attacks originate in the region as opposed to being launched from other parts of the world.” BioCatch’s technology, he said, offers a unique defense, since it “is not reliant on known strains of cyberattacks or other static measures of authentication.”

The company has not disclosed all of its new LATAM clients, but at least one of them is Brazil’s Itau Unibanco, whose IT Superintendent, Rodrigo Colossi, who attested to the value of BioCatch’s technology. “We have experienced first-hand the significant return on investment that BioCatch provides and this comes from not only catching the fraud that traditional solutions miss, but from reducing the operational costs and lost customer revenue that comes from too much disruption in the digital channel,” he said.

Filed Under: Industry News Tagged With: anti-fraud solutions, bank deployments, behavioral biometrics, BioCatch, Biometric, biometrics, corporate partnerships, FinTech, LATAM, Latin America

Related News & Articles

IAR Systems Now Offers Support for NXP MCUs

Timehop Data Breach Yields Valuable Lessons: FIDO

FPC Says the Key to Contactless Payment Card Momentum is Biometrics

Primary Sidebar

Learn About Mobile ID and Aviation

Tweets

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi’s product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • NordPass Enables Biometric, TOTP-secured 2FA for Business Users
  • Mastercard Solution Certified Under UK’s Digital ID Framework
  • Transatlantic Digital Traveler Identity Project Gets High-Profile Tech Partner
  • Digital Identity Tech Demo Online Event
  • Mobile ID Comes to Another US Campus

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 MobileIDWorld