Case Study: High Profile Fintech Company Saves $4M+ with BioCatch Behavioral Biometrics

How Behavioral Biometrics Saved a Customer Over $4m a Year on Fraudulent Account Opening and New Account Rejections

High Profile Fintech Company, a challenger bank focused on making business account opening as easy as opening an email account, faced rising fraud risk after introducing a more frictionless onboarding process. As a result, its fraud detection rates were too low, while false positives and auto-rejects were too high, hurting both revenue and customer experience. BioCatch was brought in to help address these account opening challenges.

BioCatch implemented its Account Opening Protection solution to monitor user behavior in real time during the application process, using behavioral biometrics to distinguish genuine applicants from fraudsters. The results included identifying 328 high-risk sessions missed by existing controls, saving more than $1 million from fraudulent applications and more than $3 million in unnecessary account rejections, while reducing rejections by 1,500 applications.