BioCatch Featured in Gartner's 2014 Online Fraud Detection Market Guide

BOSTON, July 23, 2014 /PRNewswire/ --

BioCatch, the global leader in cognitive biometric authentication and threat detection, announced today it has been named in Gartner's Market Guide for Online Fraud Detection[i]. The Market Guide replaces Gartner's well-known Magic Quadrant for Web Fraud Detection.

In the report, Gartner categorized BioCatch as one of several vendors to deliver passive biometric analysis and predicted, "By 2017, passive biometric analysis will become a standard feature of at least 30% of one-stop fraud detection solutions - up from less than 1% today." Passive, or transparent, biometrics is done behind the scenes and does not require the active participation of the user - making it completely frictionless.

BioCatch transparently authenticates visitors to banking and eCommerce sites by proactively collecting and analyzing over 400 bio-behavioral, cognitive and physiological parameters, including responses to subtle hidden challenges, thereby significantly reducing friction associated with risky transactions and identifying users exhibiting behaviors consistent with fraudsters.

"We are very pleased to be included in Gartner's respected Market Guide for Online Fraud Detection (OFD)," said BioCatch CEO and Founder Benny Rosenbaum. "BioCatch works hard to provide our banking and eCommerce customers with the very best biometric authentication and fraud prevention solution, and we believe inclusion in this report, as well as the recognition we received in 2013 as a Gartner Cool Vendor[ii], is a good indicator that we are providing the industry with an innovative and much-needed technology. "

The Market Guide defined passive biometric analysis as, "done 'behind the scenes' and is transparent or unknown to the user (unless an organization chooses to tell the user it is occurring). There is no user enrollment necessary. Over time, the system is trained on a user's biometric 'signature' so that it can compare the signature to a fraudster's on a blacklist, or to ongoing user behavior to determine whether the legitimate user is being impersonated. The use of passive voice recognition and passive gesture dynamics - that is, behavioral techniques in which user movements on a device are tracked and measured - have already proved to be very useful in the OFD market."

About BioCatch  

BioCatch is a leading provider of cognitive biometric authentication and threat detection solutions for mobile and Web applications. Available as a cloud-based solution, BioCatch proactively collects and analyzes more than 400 cognitive parameters to generate a unique user profile. Banks and eCommerce websites and mobile apps use BioCatch to significantly reduce friction associated with risky transactions and protect users against cyber threats, such as Account Takeovers, Man-in-the-Browser (MitB) Malware and Remote Access (RAT) attacks. Additionally, BioCatch provides an enterprise tool that improves the employee authentication experience while protecting access to critical IT assets. The Company was founded in 2011 by experts in neural science research, machine learning and cyber security and is currently deployed in leading banks, eCommerce sites and enterprises across North America, Latin America and Europe. For more information, please visit http://www.biocatch.com.

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

i. Gartner, Market Guide for Online Fraud Detection, Avivah Litan, June 2, 2014

ii. Gartner, Cool Vendors in Security: Identity and Access Management, Ray Wagner/Avivah Litan/Earl Perkins, April 29, 2013

Media Contact:
Rachel Glaser
GK PR for BioCatch
Rachel@gkipr.com
+972-54-250-9439

SOURCE BioCatch

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NexID Receives Grants to Fund Further Development, Commercialization of Biometric 'Liveness Detection'

POTSDAM, N.Y., April 30, 2014 /PRNewswire/ -- NexID Biometrics LLC, whose "liveness detection" technology boosts protection in applications with critical security-authentication needs, today announced it has received a series of funding grants totaling $325,000, including a highly competitive award given to emerging companies in central New York state.

NexID, the first company to offer liveness detection software for fingerprint-sensors on mobile devices, said the grants will fund further research, development and commercialization of additional modes of authentication that go beyond its deep expertise in detecting and mitigating attempts to spoof fingerprint scanners used for authenticating entry to secure locations and systems.

NexID will participate with Clarkson University here and West Virginia University in the joint research into biometric security technology sponsored by the National Science Foundation and gain the right to license technology that results from that research. NexID is a venture "spinout" from both institutions, with several of the company's founders serving on their faculty.

To expand the NSF-funded work at Clarkson and WVU, NexID has received a matching grant of $100,000 from Seaway Private Equity Corporation (SPEC) to develop a commercial liveness-detection application for security systems that scan people's faces and the irises in human eyes.  SPEC provides early stage equity capital funding for companies in St. Lawrence County, N.Y., with significant growth potential.

NexID also received a $150,000 Grant for Growth from the Syracuse-based CenterState Corporation for Economic Opportunity (CEO), which will be augmented by another matching grant from SPEC in the amount of $75,000.  The CenterState CEO grant to NexID was one of only two organizations awarded from among scores of companies that applied for funding.

"We expect this funding to extend and accelerate our operations through the two to three years it may take before NexID begins to realize royalty revenue from the licensing of our technology in these new areas," said Dr. Stephanie Schuckers, Professor of Electrical and Computer Engineering at Clarkson University and CEO of NexID.

Privately held, NexID has operated organically since 2007 by licensing the use of its software to makers of traditional fingerprint-scanning systems to authenticate users at international border crossings and to gain access to laptops, systems and secure locations.  NexID's research into spoofing techniques and liveness detection software raises the effectiveness of fingerprint-scanning systems to over 95 percent.

The introduction of fingerprint scanning in popular smartphones, such as Apple's iPhone 5S with TouchID and Samsung's Galaxy S® 5, has caused the market for scanner-equipped mobile devices – and the need to safeguard them from spoofing -- to explode.  Meanwhile, heightened concerns for security around the world are driving global demand for additional modes of biometric authentication.

"We're proud of the renowned expertise in biometrics and cyber security that Dr. Schuckers and NexID bring to Clarkson," said University President Anthony Collins, Ph. D.  "It's an honor for our institution to be associated so closely with their leadership in this highly specialized area.

"Further, as a member of the Seaway Private Equity Corporation's Board of Directors, I'm pleased to see that NexID, truly a global center of excellence in biometrics technology here in the northern New York region, is receiving matching funds to further leverage this opportunity for growth," Collins said.

About NexID Biometrics
NexID Biometrics is a leading software and technology supplier to the biometric-authentication industry. The company develops and licenses liveness detection software that enables fingerprint-scanning technologies to more accurately, and with greater confidence, authenticate scanned images by mitigating spoof-related risks. The company also provides testing and analysis of fingerprint scanning devices to identify existing vulnerabilities to known spoofing strategies. The company's founders represent some of the world's leading authorities on biometric spoof mitigation and liveness detection.

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SOURCE NexID

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NexID First To Offer "Liveness Detection" Software For Mobile Devices

WASHINGTON, March 18, 2014 /PRNewswire/ -- As mobile device manufacturers embed fingerprint ID into millions of smartphones, NexID Biometrics today introduces its Mobile Live Finger Detection (LFD) software, the first liveness detection solution designed specifically to exceed the convenience and security needs of mobile users worldwide.  The software provides authentication rates as high as 94-97 percent, offering the highest levels of "spoof-proofing" software available on the market today.   

NexID developed the Mobile LFD software solution specifically for mobile devices.  Due to the variety of fingerprint-scanning solutions on the market, the company designed the software to be technology agnostic so it could work with all fingerprint sensors and mobile devices, while achieving fast execution times and resource efficiency.

The Mobile LFD software resides in a mobile device and detects whether an image captured by the device's fingerprint sensor is detecting a finger from a living person or if it's a fake or "spoofed" fingerprint. 

Adding live finger detection enhances the device's security and helps eliminate unlocking a phone or one of its applications that may contain confidential information.  As evidenced with Apple's iPhone 5S TouchID, fingerprint sensors are actually highly vulnerable to hacking without some form of liveness detection.

NexID will introduce Mobile LFD here this week in Booth #202 at the Connect: ID Expo, where company executives will discuss and illustrate fingerprint spoofing techniques and fake finger detection.  Additionally, Clarkson University professor and NexID co-owner, Dr. Stephanie Schuckers, will be speaking at the conference at 1:50 p.m. today on the topic of "Fake Fingers and Stolen Templates: Topics in Biometric Security."

"Two of the world's leading mobile device makers now include fingerprint identification on their devices, so it doesn't take a crystal ball to see that trend continuing," said NexID COO Mark Cornett.  "We believe every mobile device will incorporate some type of fingerprint ID functionality in the next couple of years. And with people relying more and more on their devices, the security of personal, financial, health and business information is not just needed, it's imperative. "  

For example, businesses contemplating adopting Bring Your Own Device (BYOD) programs face the need to ensure company information on mobile devices remains private and secure; meanwhile, employees may opt for more convenience to access phone features on the same devices.  Mobile LFD offers a sliding scale of security for fingerprint ID on smartphones, allowing for a simple and flexible solution. 

NexID said its Mobile LFD can immediately enhance the myriad of fingerprint ID solutions being developed by sensor manufacturers, mobile devices companies, and application developers.  Fingerprint sensor companies can embed the software directly onto a sensor's chip (LFD on chip), and device manufacturers can add it to the main processor (LFD on host), all to provide customers with a convenient alternative to traditional PINs and passwords. NexID's Mobile LFD solution can also be embedded in "trust zone" or trusted execution environment chip sets.

The Mobile LFD SDK will be distributed free for evaluation, solution integration, and testing purposes.  NexID also offers professional services to assist with the solution integration process.  Licensing and distribution agreements are negotiated separately.

For more information on NexID Mobile LFD, please visit www.nexidbiometrics.com.  A white paper on liveness detection, including examples of how the company researches and tests different "spoofing" techniques, is also available.

About NexID Biometrics
NexID Biometrics is a leading software and technology supplier to the biometric authentication industry. The company develops and licenses liveness detection software that enables fingerprint-scanning technologies to more accurately, and with greater confidence, authenticate scanned images by mitigating spoof-related risks. The company also provides testing and analysis of fingerprint scanning devices to identify existing vulnerabilities to known spoofing strategies. The company's founders represent some of the world's leading authorities on biometric spoof mitigation and liveness detection.

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SOURCE NexID Biometrics

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