BioCatch Joins Alkami’s Gold Partner Program, Providing Alkami Customers With Access to World-class Fraud Detection Powered by Behavioral Biometrics.

Rhea-AI Summary

Alkami Technology has partnered with BioCatch, a leader in behavioral biometrics, enhancing fraud protection for its bank and credit union clients. This collaboration enables Alkami's clients to use BioCatch's technology to differentiate between genuine users and fraudsters, thus improving security during digital transactions. With over 50 major financial institutions using BioCatch, this integration is set to offer a seamless user experience while safeguarding customer assets. Alkami’s Gold Partner Program supports this initiative, fostering valuable fintech connections.

Positive

• Partnership with BioCatch enhances fraud detection capabilities for clients.
• BioCatch technology protects user identities and improves digital experiences.
• Alkami's Gold Partner Program connects fintech partners to improve service offerings.

Negative

• None.

World-class technology used by largest financial institutions now accessible to Alkami network users; providing top-tier fraud detection

NEW YORK--(BUSINESS WIRE)-- BioCatch, the market leader in behavioral biometrics technology, is pleased to announce that they are now part of Alkami Technology, Inc.’s (Nasdaq: ALKT) Gold Partner Program. This new partnership enables Alkami’s network of bank and credit union clients to leverage BioCatch’s best-in-class technology to help protect their customers from fraud attacks and cybercrime.

BioCatch analyzes a user’s physical and cognitive digital behavior to distinguish between genuine users and cybercriminals to detect fraud and identity theft while improving customer experience. Alkami clients will now be able to provide their users with a frictionless digital experience empowering safety and trust between the financial institutions and their customers.

BioCatch’s category-defining behavioral biometrics technology helps protect more than 50 of the world’s largest financial institutions, their clients and their clients’ assets from online banking fraud and other types of criminal activity, including sophisticated social engineering voice scams.

BioCatch monitors user behavior throughout the account lifecycle, at origination and continuously throughout each online session, to identify risk by analyzing actions such as mouse movements, typing cadence or interaction with the screen. Leveraging AI to deliver a risk score, BioCatch identifies and alerts the bank to genuine or fraudulent behavior. The technology helps ensure banking customers are provided with a secure and seamless digital experience.

Alkami’s Gold Partner Program nurtures an ecosystem that connects the right fintech partners to Alkami’s client base of banks and credit unions. The program is integral to identifying and prioritizing the most beneficial solution partnerships and then recommending those partners to the Alkami client community.

“As the digital banking ecosystem evolves, our clients rely upon us to provide them with state-of-the-art fraud mitigation solutions to protect the end user,” said Stephen Bohanon, Alkami’s Co-Founder and Chief Strategy & Sales Officer. “Biocatch represents the next generation of behavioral anomaly detection, and its integration with Alkami’s extensible platform enables us to offer the best-in-class protection that today’s financial institutions need.”

"The explosion of new consumers of digital banking services over the last year has accelerated the need for technologies that can offer strong fraud protection with minimal disruption to users," says BioCatch CRO, Mike Keating. "BioCatch is committed to expanding Alkami’s gold standard in digital banking by providing best-in-class fraud protection and seamless user experiences. We are pleased to partner with Alkami to leverage behavioral biometric technology for Alkami clients, allowing more financial institutions to protect their most vulnerable clients and provide enhanced digital user experiences.”

About Alkami

Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the United States that enables clients to grow confidently, adapt quickly and build thriving digital communities. The Alkami Platform is the digital banking and fraud mitigation platform of choice for over 260 financial institutions. Alkami's investments have resulted in a premium platform that has enabled it to replace older, larger and better-funded incumbents and provide clients with world-class experiences reflecting their individual digital strategies.

About BioCatch

BioCatch is the leader in behavioral biometrics which analyzes an online user’s physical and cognitive digital behavior to protect individuals and their assets. Our mission is to unlock the power of behavior and deliver actionable insights to create a digital world where identity, trust and ease seamlessly co-exist. Leading financial institutions around the globe use BioCatch to more effectively fight fraud, drive digital transformation and accelerate business growth. With over a decade of analyzing data, over 60 patents and unparalleled experience, BioCatch continues to innovate to solve tomorrow’s problems. For more information, please visit www.biocatch.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20210914005426/en/

Matthew Sheahan

msheahan@intermarket.com

917-647-3242

Source: BioCatch

FAQ

What is the recent partnership involving ALKT?

Alkami Technology has partnered with BioCatch to enhance fraud detection for its clients.

How does BioCatch technology benefit Alkami clients?

BioCatch's technology helps clients identify genuine users versus fraudsters, improving security.

What is the role of Alkami's Gold Partner Program?

The Gold Partner Program connects fintech partners to Alkami's client base, facilitating beneficial partnerships.

How many financial institutions use BioCatch technology?

BioCatch's technology is used by over 50 of the world's largest financial institutions.

When was the partnership between Alkami and BioCatch announced?

The partnership was announced in a press release dated September 14, 2021.