BioCatch targets AI-driven banking fraud at the device level with DeviceIQ

Behavioral biometrics company BioCatch has released a new device identification software to help financial institutions evaluate fraud risk in digital banking.

DeviceIQ is designed to help banks detect techniques fraudsters use to conduct transactions on the same physical devices, including device spoofing, emulators, cloaked browsers, jailbroken devices, and data wiping.

The device identification software is linked to the BioCatch Connect fraud-prevention platform, which detects and prevents account-opening and account-takeover fraud, digital banking scams, and financial crimes. This allows the company’s clients to avoid fragmentation, along with higher costs and complexity, according to BioCatch Chief Product Officer Ayelet Eliezer.

“Many financial institutions today rely on risk signals scattered across a patchwork of device and risk tools from multiple vendors,” says Eliezer. “DeviceIQ is built directly into the BioCatch Connect platform, enabling banks to evaluate all risk signals in one place, giving them the clarity they need to stop fraud earlier, reduce friction for genuine customers, and prepare for a rapidly approaching AI-driven future.”

DeviceIQ builds a persistent device identity across web and mobile channels, reducing friction for real users while catching bad actors who try to spoof or mask their devices, according to the firm. The platform flags devices previously linked to mule activity, scams, or account takeover and also scans for jailbroken devices, missing sensors and unauthorized code.

No names, addresses, or ID numbers are collected, and all user and account data is pseudonymized, making the device identities compliant with regulatory and privacy requirements across all geographies.

BioCatch also says that DeviceIQ can detect agentic browsers, deepfake injection, and AI-assisted access through its AI extension.

The Tel Aviv-headquartered firm has recently upgraded its BioCatch Connect platform by integrating two capabilities: BioCatch Align and BioCatch Link. While one unifies signal collection across behavior, device, network, transactional and application data, the other maps connections between users, devices and payments to expose hidden money laundering networks.

Article Topics

AI fraud  |  banking  |  behavioral biometrics  |  BioCatch  |  biometrics  |  device fingerprinting  |  fraud prevention