Alkami Customers Including Gate City Bank Strengthen Fraud Prevention with BioCatch

Rhea-AI Summary

Alkami Technology (Nasdaq: ALKT) announced that its clients using BioCatch's fraud prevention solutions through the Alkami Digital Banking Platform prevented over $54 million in fraudulent transactions in 2024. The partnership leverages BioCatch's Account Takeover Protection, which analyzes users' digital behaviors in real-time, including mouse movements, typing patterns, and scroll patterns.

The system operates in the background, strengthening security without disrupting user experience by detecting suspicious activities such as keyboard shortcuts, remote access tools, and developer console usage. Gate City Bank reported immediate positive results, with the technology enhancing their defenses through continuous learning and adaptation to customer behavior.

BioCatch's solution helps financial institutions distinguish legitimate users from fraudsters by analyzing behavioral, device, and network signals in real-time, addressing the growing challenge of cybercriminals using stolen credentials and social engineering tactics.

Positive

• Successfully prevented $54 million in fraudulent transactions in 2024
• Partnership with BioCatch strengthens security without adding user friction
• J.D. Power certification for outstanding mobile banking platform experience

Negative

• None.

The Alkami-BioCatch partnership has prevented millions of dollars in fraudulent transactions in 2024

PLANO, Texas, March 19, 2025 /PRNewswire/ -- Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., announced today that its clients leveraging BioCatch's fraud prevention solutions through the Alkami Digital Banking Platform stopped more than $54 million in fraudulent transactions in 2024.

"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," said 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."

Fraud remains one of the most pressing challenges in financial services, with cybercriminals continually refining their tactics to gain access to consumers' and businesses' banking information through stolen credentials, social engineering, and advanced digital threats. To combat these threats, Alkami and BioCatch, which prevents financial crime by recognizing usage patterns, provide a proactive, behavior-based approach to fraud prevention, enabling financial institutions to identify and stop account takeover fraud before money disappears.

"The results were immediate. BioCatch enhanced our defenses by continuously learning and adapting to customer behavior to protect against suspicious activity. This technology has been instrumental in safeguarding our customers' identities without disrupting their experience," said Jessica Ebeling, executive vice president, chief digital and payment officer at Gate City Bank.

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 analyzes these digital behaviors 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 helps financial institutions stop fraud before financial losses occur.

"Our partnership with Alkami enables financial institutions to proactively stop fraud in real time before it impacts their members or customers," said Jay Whoriskey, north america director at BioCatch. "The $54 million in fraud Alkami customers deploying our solutions prevented last year demonstrates how BioCatch's real-time analysis of behavioral, device, and network signals helps financial institutions distinguish legitimate users from fraudsters, catching threats traditional security measures often miss."

To learn more about Alkami's Digital Banking Platform, visit here.

Alkami has been certified by J.D. Power for providing "An Outstanding Mobile Banking Platform Experience¹."

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. Alkami helps clients transform through retail and business banking, digital account opening, payment security, and data and marketing solutions. To learn more, visit www.alkami.com.

About BioCatch
BioCatch prevents financial crime by recognizing patterns in human behavior, continuously collecting more than 3,000 anonymized data points – keystroke and mouse activity, touch screen behavior, physical device attributes, and more – as people interact with their digital banking platforms. With these inputs, BioCatch's machine-learning models reveal patterns in user behavior and provide device intelligence that, together, distinguish the criminal from the legitimate. The company's Client Innovation Board – an industry-led initiative in partnership with American Express, Barclays, Citi Ventures, HSBC, National Australia Bank, and others – collaborates to pioneer innovative ways of leveraging customer relationships for improved fraud detection. Today, 34 of the world's largest 100 banks and 257 total financial institutions deploy BioCatch solutions, analyzing 14 billion user sessions per month and protecting 447 million people around the world from fraud and financial crime.

Media Relations Contacts
Vested
alkami@fullyvested.com

Marla Pieton
marla.pieton@alkami.com

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1 J.D. Power 2024 Mobile App Platform Certification ProgramSM recognition is based on successful completion of an audit and exceeding a customer experience benchmark through a survey of recent servicing interactions. For more information, visit www.jdpower.com/awards.

 

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SOURCE Alkami Technology, Inc.

FAQ

How much fraud did Alkami's partnership with BioCatch prevent in 2024?

Alkami's partnership with BioCatch prevented over $54 million in fraudulent transactions in 2024 through their Digital Banking Platform.

What security features does BioCatch's Account Takeover Protection analyze for ALKT clients?

BioCatch analyzes digital behaviors including mouse movements, typing cadence, swipe patterns, and scroll patterns to identify fraudulent activities.

How does BioCatch's technology detect fraud through the ALKT platform?

The technology identifies suspicious activities like keyboard shortcuts, remote access tools (RATs), and developer console usage in real-time banking sessions.

What impact has the BioCatch integration had on Gate City Bank's security?

Gate City Bank reported immediate results with enhanced defenses through continuous learning and adaptation to customer behavior, without disrupting user experience.