BioCatch studies how people type, touch their phones and move through banking apps. Its technology can spot unusual behavior and warn banks when a criminal may have taken control of someone’s account.
The Israeli company currently protects 760 million users and 1.8 billion devices. More than 350 banks across 21 countries use its system, including over 100 of the world’s largest banks.
BioCatch was founded in Israel in 2011 by Avi Turgeman and the late Benny Rosenbaum. The company grew from a small cybersecurity startup into a major global fraud prevention business.
Visa said the deal will strengthen its fight against banking scams, account takeovers and money laundering, which cost the global economy more than $1 trillion every year.