Case Study: Top U.S. Financial Technology Provider Prevents $5.8M in Monthly Card and ACH Fraud with BioCatch Behavioral Biometrics

Top U.S. Financial Technology Provider Prevents $5.8 Million of Card and ACH Fraud Monthly With Behavioral Biometrics

Top U.S. Financial Technology Provider, a major U.S. provider of financial technology for businesses and consumers, was struggling with a heavy manual review burden for suspicious transactions and with blocked payments that hurt the customer experience. The company needed better visibility into its payment flow to make more accurate risk decisions beyond just the data entered at checkout.

BioCatch deployed its behavioral biometrics solution at the online payment checkout flow, analyzing users’ digital and cognitive behavior in real time without prior user knowledge. The implementation drove a 70% decrease in fraud after auto-declining, preventing an average of $3.6 million in payment card fraud and $2.2 million in ACH bank fraud per month, while also improving operational efficiency by reducing manual reviews.