Argentina’s banks and fintechs launch intelligence network to exchange information on fraud

Galicia, Naranja X and Santander announced today the creation of BioCatch Trust Argentina, the first intelligent interbank network for the exchange of real-time information on fraud and scams in the Western Hemisphere. The network relies on behavioral data and devices, with the goal of protecting customers from financial crimes.

BioCatch Trust uses more than 3,000 user behavior indicators, such as keyboard activity, touchscreen usage, and swipe pressure, to assess in real-time the trustworthiness of accounts receiving transfers and payments. If it detects suspicious behavior on a receiving account, it shares this information with the bank issuing the transaction, allowing the transaction to be suspended and investigated before the withdrawal is complete.