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BioCatch Enters Implementation Stage of Strong Customer Authentication (SCA) for Payment Services Directive (PSD)2, Launches SCA Compliance Awareness Events

NEW YORK–(BUSINESS WIRE)–BioCatch, the global leader in behavioural biometrics announced it has entered the implementation stage of its offering that will enable financial institutions to leverage BioCatch’s behavioural biometric-based solution to support their journey to compliance with PSD2’s implementation of Strong Customer Authentication (SCA), a regulation that requires multi-factor authentication for online transactions. BioCatch’s behavioural biometrics industry best-practices solution improves banks and financial institutions’ customer experience by applying machine learning to provide superior consumer protection while reducing friction in the digital journey.

BioCatch will provide behavioural biometric technology through integration partners who offer access control solutions to customers leveraging SCA and online fraud prevention services. This will enable financial institutions to use behaviour as a factor in their SCA compliance to facilitate their ability to meet the new March 2022 U.K. timeline for SCA compliance. BioCatch has begun behavioural biometric-based customer interface implementations for SCA for several customers.

“Since it operates in the background, behavioural biometrics enables a secure, customer-centric experience by analyzing a user’s digital behaviour without increasing friction,” said Howard Edelstein, Chairman & CEO of BioCatch.

By leveraging behavioural biometrics as a factor for SCA compliance, banks can reduce a tremendous amount of friction, improving the user experience, reducing attrition in the payment process, all while reducing authentication costs.

BioCatch’s category-defining behavioural biometrics technology protects many of the world’s largest financial institutions, their clients and their clients’ assets from fraud and other types of criminal activity.

“This is very exciting news, and excellent timing.” said Neira Jones, independent advisor and a pioneer in the payments security industry. “The ICO clarification around consent for behavioural biometrics to support SCA compliance and its deadline extension to 2022 gives financial institutions an opportunity to not only focus on compliance, but also prioritize reducing friction to improve the customer experience as part of a holistic payment fraud management strategy.”

SCA Compliance Awareness Events

To better help card issuers and ecommerce organizations with SCA Compliance, BioCatch is hosting a LinkedIn Live Discussion Series to help broaden the industry’s understanding of its SCA compliance journey.

The first event, The Benefits of Behaviour for E-commerce SCA Compliance, will be held on Wednesday, July 28 at 3:00 p.m. U.K. time (10 a.m. ET) and will feature two BioCatch leaders: Iain Swaine, Head of Cyber Strategy EMEA, and Ruhan Basson, Director of Pre-sales & Professional Services for EMEA. They will dive into the recent ICO decision and the advantages of using benefits of using behavioural authentication in achieving PSD2 SCA compliance. Participants can register here.

Additional events in this series will follow.

About BioCatch

BioCatch is the leader in Behavioural Biometrics, which analyzes an online user’s physical and cognitive behaviour to protect users and their assets. Our mission is to unlock the power of behaviour and deliver actionable insights to create a digital world where identity, trust and ease of use seamlessly co-exist. Leading financial institutions around the globe use BioCatch to more effectively fight fraud, drive digital transformation and accelerate business growth. With over a decade of experience analyzing data, more than 60 patents and unparalleled anti-fraud expertise, BioCatch continues to innovate to solve tomorrow’s problems. For more information, please visit www.biocatch.com.

Contacts

Matthew Sheahan

Lansons Intermarket

+1 917-647-3242

msheahan@intermarket.com

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