BioCatch Launches DeviceIQ to Combat Banking Fraud

BioCatch has introduced DeviceIQ, a device intelligence product aimed at helping banks assess risk before customer authentication in mobile apps or web sessions. This product addresses the rise in digital fraud tactics such as device spoofing and automation tools that can manipulate device signals. DeviceIQ analyzes device health indicators in milliseconds to detect compromised devices, allowing banks to block access or flag suspicious sessions before login attempts. The product aims to enhance existing fraud controls while minimizing disruption for legitimate users. BioCatch emphasizes a cross-bank approach to share indicators of compromise and patterns of abuse, reflecting a growing trend in collaborative fraud prevention. The UK government has recognized tech-enabled fraud as a national priority, further motivating banks to invest in such technologies. DeviceIQ is delivered through BioCatch's Connect platform, integrating various intelligence types to strengthen fraud detection.

Key Points: • DeviceIQ analyzes device health to detect fraud before user authentication. • The product aims to combat sophisticated fraud tactics like device spoofing. • UK banks are increasing investments in fraud prevention technologies.