Samsung SDS announces deal with BioCatch
24 October 2017 14:46 GMT

Behavioral biometrics firm BioCatch has teamed up with Samsung SDS to integrate the former firm's technology into Samsung SDS's authentication platform, Nexsign. 

BioCatch will use risk-based authentication to continuously monitor Samsung SDS’ users by mapping their behavioral patterns after log-in, to better distinguish between an authorized user, and that of an unauthorized user or an automated BOT or malware.

“Innovations in fintech have given ease to day-to-day tasks such as, banking, transactions, withdrawals and money transfers. Today’s leading brands have made managing finances a social and adoptable experience matching today’s digitally savvy consumers,” said Eyal Goldwerger, Chief Executive Officer at BioCatch. “However, given how sophisticated fraudsters are today, the consumer-grade authentication protocols that exist leave open the real possibility of account takeovers. In fact, all the fraud that BioCatch finds today, comes from within authenticated sessions, prompted by malware, social engineering and other sophisticated attacks that circumvent the login method entirely. As a result, security continues to be a major factor holding back the full potential of mobile banking and payments, especially when taking into consideration the equally important demand for a seamless user experience. Through Nexsign and our partnership, Samsung has created the platform that resolves this constant battle.”

A statement from BioCatch noted that the system analyzes more than 500 different behavioral parameters during a session to determine whether the user is in fact the genuine user and not a human imposter, malware or a bot. 

“The vision of Nexsign is to make passwords obsolete and give users a way to authenticate themselves safely and securely with biometrics. While physical biometrics provide an excellent way to do this at login, and other points within the app through step-up authentication, behavioral biometrics is the perfect complement to provide continuous authentication inside a session. The BioCatch technology relies on a broad array of parameters, and is able to detect both human and non-human imposters inside a session that would otherwise be impossible to identify with traditional means. We are excited for this partnership and the combined offering that we can deliver to our customers,” said Richard Lobovsky, VP of Enterprise Solutions at Samsung SDS America.