Alkami Customers Including Gate City Bank Strengthen Fraud Prevention with BioCatch

Core Insights - The partnership between Alkami Technology and BioCatch has successfully prevented over $54 million in fraudulent transactions in 2024, showcasing the effectiveness of their fraud prevention solutions [1][5]. Company Overview - Alkami Technology, Inc. is a leading provider of cloud-based digital banking solutions for financial institutions in the U.S., focusing on enabling clients to grow confidently and adapt quickly [6]. - BioCatch specializes in preventing financial crime by analyzing user behavior patterns, utilizing over 3,000 anonymized data points to distinguish between legitimate users and fraudsters [7]. Fraud Prevention Strategy - Alkami employs a strategic, multi-layered approach to fraud prevention, with BioCatch playing a crucial role in detecting and stopping emerging threats without disrupting user experience [2]. - BioCatch's Account Takeover Protection analyzes unique user interactions, such as mouse movements and typing patterns, to identify suspicious activities in real time [4]. Impact and Results - The collaboration has led to immediate enhancements in fraud defenses, with BioCatch's technology continuously learning and adapting to customer behavior to safeguard identities [3]. - The proactive, behavior-based approach allows financial institutions to identify and prevent account takeover fraud before financial losses occur [2][5]. Industry Context - Fraud remains a significant challenge in the financial services sector, with cybercriminals constantly evolving their tactics to exploit vulnerabilities [2]. - BioCatch's solutions are currently deployed by 34 of the world's largest 100 banks, analyzing 14 billion user sessions monthly and protecting 447 million individuals from fraud [7].