Alkami Technology, a cloud-based digital banking solutions provider for US-based financial institutions, has revealed that its clients leveraging fraud prevention solutions from BioCatch through the Alkami Digital Banking Platform stopped more than $54million in fraudulent transactions in 2024.
With fraud remaining one of the biggest challenges in financial services, Alkami aims to provide a proactive, behaviour-based approach to fraud prevention, enabling financial institutions to identify and stop account takeover fraud before money disappears.
In partnership with BioCatch, which prevents financial crime by recognising usage patterns, Alkami also looks to combat cybercriminals who continually refine their tactics to gain access to consumers’ and businesses’ banking information through stolen credentials, social engineering, and advanced digital threats.
“Alkami takes a strategic, multi-layered approach to fraud prevention, and BioCatch is a valuable component in helping financial institutions detect and stop emerging threats,” explained Brad Cranford, director of product management at Alkami. “By operating seamlessly in the background, BioCatch’s Account Takeover Protection strengthens security without adding friction or disrupting the user experience.”
Analysing digital behaviour
“Our partnership with Alkami enables financial institutions to proactively stop fraud in real-time before it impacts their members or customers,” added Jay Whoriskey, North America director at BioCatch. “The $54million in fraud Alkami customers deploying our solutions prevented last year demonstrates how BioCatch’s real-time analysis of behavioural, device, and network signals helps financial institutions distinguish legitimate users from fraudsters, catching threats traditional security measures often miss.”
Every user interacts with their device in a unique way — through mouse movements, typing cadence, and swipe or scroll patterns. BioCatch’s Account Takeover Protection analyses these digital behaviours in real time to identify fraudsters who exhibit telltale signs of manipulation such as using keyboard shortcuts, remote access tools (RATs), or developer consoles to navigate banking sessions. By detecting these subtle yet critical high-risk actions, BioCatch aims to help financial institutions stop fraud before financial losses occur.
Jessica Ebeling, EVP and chief digital and payment officer at Gate City Bank, explained how BioCatch’s solution supported its efforts to push back against fraudsters: “The results were immediate. BioCatch enhanced our defences by continuously learning and adapting to customer behaviour to protect against suspicious activity. This technology has been instrumental in safeguarding our customers’ identities without disrupting their experience.”
