Revelock Provides Behavioral Biometrics for CaixaBank

CaixaBank has integrated Revelock’s behavioral biometrics technology into its CaixaBankNow online banking platform. The solution analyzes each user’s behavioral patterns to generate a risk score during each session, and can step in if those patterns deviate from the established profile for that individual. Those discrepancies could point to the presence of a fraudster.

The news builds on the existing relationship between the two companies. CaixaBank and Revelock have been working together since 2015, when Revelock was still operating as buguroo (the company rebranded earlier this year). According to CaixaBank, collaborating with start-ups like Revelock is beneficial because it allows the bank to stay ahead of the innovation curve, and bring new anti-fraud solutions to the market more quickly than their competitors. The start-ups, meanwhile, are able to scale faster than they can while operating alone.

In that regard, the Revelock solution is designed to prevent fraud in a digital environment. CaixaBank is currently one of the top banks in Spain, and has the country’s largest digital customer base with more than 10 million users.

Revelock itself is also based in Spain, and recently partnered another CaixaBank collaborator in the country. FacePhi’s facial recognition technology was deployed in CaixaBank’s biometric ATMs back in 2019, giving customers the ability to withdraw cash with a facial recognition scan rather than a PIN at a handful of branches in Barcelona. Revelock and FacePhi officially joined forces back in May, shortly after Revelock released a new Fraud Detection and Response Platform to help financial institutions respond to fraud in a more timely manner.

Revelock was acquired by Feedzai just over a month ago. Euromoney credited CaixaBank with carrying out the “World’s Best Bank Transformation” in 2021, while the US magazine Global Finance listed the bank as the year’s Best Bank in Spain and in Western Europe.

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September 21, 2021 – by Eric Weiss

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