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BioCatch vs FICO Falcon Platform comparison

 

Comparison Buyer's Guide

Executive Summary
 

Categories and Ranking

BioCatch
Ranking in Fraud Detection and Prevention
4th
Average Rating
8.0
Number of Reviews
1
Ranking in other categories
No ranking in other categories
FICO Falcon Platform
Ranking in Fraud Detection and Prevention
3rd
Average Rating
8.6
Number of Reviews
2
Ranking in other categories
No ranking in other categories
 

Mindshare comparison

As of November 2024, in the Fraud Detection and Prevention category, the mindshare of BioCatch is 8.9%, up from 6.8% compared to the previous year. The mindshare of FICO Falcon Platform is 9.1%, up from 7.3% compared to the previous year. It is calculated based on PeerSpot user engagement data.
Fraud Detection and Prevention
 

Featured Reviews

reviewer1464606 - PeerSpot reviewer
Stable with good behavioral biometrics and great technical support
BioCatch is one of the fraud detection tools which also has machine learning capabilities and it has what is called a machine learning model feature. It is run in the background. The consequence of those machine models is it is complex to perform data functions and the activity and programming techniques. The decision-making for determining what's happening within those models is a little bit complex and not at all transparent. It's not easy for businesses to understand how the model is using the data of the bank customers in order to come to the assumption it does. All of these things are background technologies and the business may not understand what's happening in the background. The customer will never know what tools are being used to monitor the fraud at all, however, the business manager should certainly be interested in knowing how this model is working. People in banks are very particular when it comes to approving these models, as they have to be accountable to the regulators on the other side. They need to understand and explain what customer data is being consumed, why it's being consumed and if it's consumption is endangering any privacy rights. There needs to be clarity in terms of how much anonymization of the data happens before BioCatch comes in. I might have a gap in knowledge, and the solution may have been updated since I used it in December of last year.
LA
It can set rules to identify suspicious activity at each point of sale during every transaction
I previously worked at Santander Bank FICO and Oracle. It was only about six months. FICO is working on a local model specifically for Brazil, whereas tools from Oracle and other vendors are only developed for general use. I haven't seen any other vendors who think like that until now. Our solution here in Brazil doesn't work for Europe, Africa, the USA, Canada, or Mexico. It's unique to Brazil and designed based on the transaction patterns of people living here. FICO has all the information on our transactions, and the logs of old transactions are on the central server. It's the same for other banks like Fordesco, Santandar, CitiBank, etc. All these banks send their transactions to the server, and FICO Analytics uses all the information about transactions in Brazil to build a model.

Quotes from Members

We asked business professionals to review the solutions they use. Here are some excerpts of what they said:
 

Pros

"It can track mouse movements as well as the actual oriental moments of such as the movement of devices, how they are held, and the angles which at they are held. All these are captured for customers and a behavioral profile is built for the customer over a period of time. This would be matched against any fraudulent behavior. If, for example, suddenly a customer account seems to be accessed by our profile, which is not one particular customer account, if the movements or habits are suspect, we can catch the fraud and shut it down."
"It can make real-time decisions or real-time declines."
"FICO is working on a local model specifically for Brazil, whereas tools from Oracle and other vendors are only developed for general use. I haven't seen any other vendors who think like that until now."
 

Cons

"BioCatch is one of the fraud detection tools which also has machine learning capabilities and it has what is called a machine learning model feature. It is run in the background. The consequence of those machine models is it is complex to perform data functions and the activity and programming techniques. The decision-making for determining what's happening within those models is a little bit complex and not at all transparent. It's not easy for businesses to understand how the model is using the data of the bank customers in order to come to the assumption it does."
"When setting up rules or parameters, some coding is required, and the learning curve is quite steep."
"I've had bad experiences with FICO support. At the bank, we've faced critical problems where we only had minutes to find the solution, and it's hard to explain quickly. We contacted FICO, but they told us it was beyond their scope of support. They try to triage the call by asking us how much money we're losing, but I can't go into that."
 

Pricing and Cost Advice

Information not available
"The functionality is fine, but the price is getting more expensive."
"FICO is one of the best fraud detection platforms. However, a small bank might find it too expensive. In that case, I would agree it's probably not worth it. However, it's a no-brainer if your bank has 50 million accounts and 7 million credit card transactions daily."
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Top Industries

By visitors reading reviews
Financial Services Firm
60%
Computer Software Company
7%
Manufacturing Company
4%
Logistics Company
3%
Financial Services Firm
38%
Computer Software Company
17%
Government
5%
Manufacturing Company
4%
 

Company Size

By reviewers
Large Enterprise
Midsize Enterprise
Small Business
No data available
No data available
 

Questions from the Community

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What do you like most about FICO Falcon Platform?
FICO is working on a local model specifically for Brazil, whereas tools from Oracle and other vendors are only developed for general use. I haven't seen any other vendors who think like that until ...
What needs improvement with FICO Falcon Platform?
FICO users are business users, not developers. When setting up rules or parameters, some coding is required, and the learning curve is quite steep. This is a disadvantage of FICO. Additionally, the...
 

Also Known As

No data available
Falcon Platform
 

Learn More

 

Overview

Find out what your peers are saying about NICE, ThreatMetrix, FICO and others in Fraud Detection and Prevention. Updated: October 2024.
816,406 professionals have used our research since 2012.