Strategic integration provides real-time fraud detection and prevention for community financial institutions

PORTLAND, Ore.: #DigitalBanking--Digital banking solutions provider Tyfone today announced a strategic partnership with BioCatch, which prevents financial crime by recognizing patterns in human behavior, to help community financial institutions (CFIs) proactively detect and prevent fraudulent activity across digital channels. BioCatch’s behavior- and device-based Account Takeover Protection solution is now seamlessly integrated with Tyfone’s nFinia® Digital Banking Platform, a configurable solution designed to meet the evolving needs of both retail and commercial banking customers.

The addition of BioCatch’s real-time behavioral analytics to Tyfone’s nFinia platform provides CFIs with an additional layer of security, including the ability to safeguard accountholders from increasingly sophisticated social engineering scams, remote access tool (RAT) attacks and mule account creation. BioCatch's Account Takeover Protection solution continuously analyzes web and mobile sessions in real time, detecting subtle anomalies in user behavior, devices, networks and installed applications.

“Account takeover fraud is one of the most pervasive threats in digital banking,” said BioCatch’s Senior Director of Global Integration Partners and Alliances, Jay Whoriskey. “By embedding our behavioral intelligence into Tyfone’s digital banking platform, community financial institutions gain real-time protection, identifying and stopping fraud before any money leaves the would-be-victim’s account without compromising the user experience.”

This partnership further equips CFIs with the tools they need for behind-the-scenes monitoring of user behavior to distinguish legitimate accountholders from cybercriminals, even when credentials are compromised or devices are hijacked.

“At Tyfone, security is core to how we build trust,” said Eric Fisher, SVP of Sales, Tyfone. “Partnering with BioCatch brings an unmatched layer of behavioral intelligence to our platform, giving our clients the confidence to fight fraud while keeping the digital experience frictionless and human-centered.”

About BioCatch:

BioCatch prevents financial crime by recognizing patterns in human behavior, continuously collecting more than 3,000 anonymized data points – keystroke and mouse activity, touch screen behavior, physical device attributes, and more – as people interact with their digital banking platforms. With these inputs, BioCatch's machine-learning models reveal patterns in user behavior and provide device intelligence that, together, distinguish the criminal from the legitimate. The company’s Customer Innovation Board – an industry-led initiative in partnership with American Express, Barclays, Citi Ventures, HSBC, National Australia Bank, and others – collaborates to pioneer innovative ways of leveraging customer relationships for improved fraud detection. Today, more than 30 of the world's largest 100 banks and 287 total financial institutions deploy BioCatch solutions, analyzing 16 billion user sessions per month and protecting more than 532 million people on more than 1.6 billion devices around the world from fraud and financial crime.

About Tyfone Inc.

Based in Portland, Ore., Tyfone is a leading provider of consumer and commercial digital banking services for community financial institutions throughout the U.S. We understand that an elegant, engaging, intuitive user experience is the minimum requirement for any digital banking provider. What differentiates Tyfone is our unwavering commitment to continuous innovation, exceptional collaboration, and superior execution. We consider each customer a true partner and place the highest value on every relationship. To learn more about Tyfone, visit Tyfone.com and connect on LinkedIn.

Fonte: Business Wire