BioCatch, a behavioural biometrics platform, has acquired AimBrain’s authentication platform for an undisclosed amount.
As part of the deal, AimBrain’s team will join the BioCatch team to support the growth of the business.
AimBrain can detect potential fraud incidents through methods including behavioural biometrics, anomaly detection and other biometric modalities. The technology is used to help companies comply with KYC, AML, PSD2 and other regulatory requirements.
By incorporating its solution into BioCatch’s, the company will be able to further help banks and financial institutions spot identity fraud.
The solution can be used in various ways including the detection of stolen or synthetic identities in account onboarding, authenticating users at login, finding fraudulent account takeover attempts and recognising social engineering scams.
AimBrain CEO Andrius Sutas said, “The fraud detection and authentication industries are rapidly consolidating, and we believe that combining forces with the leading global behavioural biometrics player at this time makes tremendous sense, both for ourselves and our clients.
“Together, we will be able to pursue broader applications, particularly in the mobile arena which requires deep understanding of fraud behaviours and a way to allow legitimate users to transact unencumbered. We are very excited about the possibilities and to be joining the BioCatch team.”
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