BioCatch, which tracks behavior to detect online fraud, says UK bank has successfully tried its tech with clients
BioCatch, a cybersecurity company that tracks behavior to catch cyber crooks, said UK’s NatWest bank has successfully tried its technology with clients.
NatWest, one of the largest banks in the UK, has deployed BioCatch technology since the beginning of the year within its private banking arm Coutts and for some of its business customers, successfully preventing online fraud and helping to protect its 14 million customers, BioCatch said in a statement.
NatWest and BioCatch plan to pilot the technology with the bank’s personal banking customers sometime in 2017.
BioCatch’s system captures more than 500 points of behavior such as hand-eye coordination, pressure, hand tremors, navigation, scrolling and other finger movements to create unique user profiles. This allows BioCatch to distinguish the normal behavior of an authorized user from that of an unauthorized user, as well as to recognize automated BOTs, RATS, malware and other malicious account takeover attacks, where the victim is typically unaware that the banking session has been hacked…