Fintech PR
BioCatch Finishes Record-Breaking 2023 with Largest Sales Quarter in Company History
BioCatch grows ARR by 49% over 2022; Surpasses the $100mm milestone; Achieves cash flow and EBITDA profitability in FY 2023
TEL AVIV, Israel and NEW YORK, Jan. 22, 2024 /PRNewswire/ — BioCatch, the global leader in digital fraud and money laundering detection and response powered by behavioral biometric intelligence, today announced preliminary results for its fiscal year 2023, achieving 49% annual ARR growth after closing the largest sales quarter in the company’s history, on the heels of crossing the $100m ARR milestone in early November 2023.
The record-breaking final fiscal quarter of 2023 completed a momentous year during which BioCatch welcomed 78 new customers and significantly expanded its relationships with existing customers, achieving 126% Net Dollar Retention. The organization’s growth continues to be fueled by the rapid adoption of BioCatch Connect™, the company’s flagship product portfolio. Adoption of BioCatch Connect accelerated in the final months of 2023 with Scam Prevention and Mule Detection solutions sales growing by 390% over 2022. In September 2023, the company released BioCatch Scout, a graphical, next-generation link analysis technology that presents pre-crime interdiction intelligence to reveal the depths of global criminal networks of connected accounts, devices, and individuals associated with fraud or money laundering.
BioCatch continues to see global demand for its world-class protection suite with North America and Latin America each comprising approximately 30% of year-ending ARR and Europe and Asia-Pacific each comprising approximately 20% respectively. The Asia-Pacific region grew more than 80% in 2023 driven by accelerating traction in Southeast Asia and continued momentum in Australia.
The BioCatch Connect portfolio continues to add significant value to community banks and credit unions with ARR from banking technology platform partnerships growing 274% in 2023.
For the full fiscal year 2023, BioCatch recorded significant revenue, operational, and customer satisfaction milestones, including:
- Eclipsing historical sales records in three of four selling quarters leading significant overachievement of FY 2023 operating plan.
- Significantly expanding customer relationships with new sales to existing customers growing >80% compared with 2022.
- Scaling to protect more than 350 million banking customers globally and process more than 9 billion user sessions per month.
- Adding 78 new customers to its global roster of 176, which includes 29 of the world’s largest retail banks by assets and one of the top three largest telecommunication providers.
- Onboarding more than 71 employees in more than 14 countries.
- Preventing more than $3.5 billion in fraud since its first customer deployment in 2016.
- Expanding relationships with cloud platform providers such as Microsoft.
- Welcoming a strategic investment from Sapphire Ventures and Macquarie Group.
Looking ahead, BioCatch projects growing cash flow and EBITDA profitability in fiscal year 2024.
“We are thrilled to invest in BioCatch as a global leader in the detection of, and response to digital fraud and money laundering,” said Gary Munitz, Head of Venture Capital (Israel, UK & EMEA). “Having seen BioCatch’s commitment to providing fraud prevention solutions to financial institutions, Macquarie Capital has decided to make this investment into BioCatch to further support their business growth.”
“It continues to amaze me what is possible with innovation, focus, collaboration, and execution. These were the foundations of our success and over achievement in 2023. We focused on our customers success, on proving the differentiation and value of our technology to our prospects and partners, and on strengthening our world-class operational teams across our business,” said Gadi Mazor, CEO of BioCatch. “As we look forward, we are poised to deliver solutions that will forever change how we as a fraud fighting community detect and prevent financial crime and associated illegal activities. Thank you to our customers, our partners, and our employees for a phenomenal 2023, we look forward to delivering unmatched value and growth again in 2024.”
About BioCatch
BioCatch stands at the forefront of digital fraud detection and financial crime prevention, pioneering behavioral biometric intelligence grounded in advanced cognitive science and machine learning. BioCatch analyzes thousands of user interactions to support a digital banking environment where identity, trust, and ease coexist. Today, more than 29 of the world’s leading 100 banks and 176 of the largest 500 rely on BioCatch ConnectÔ to combat fraud, facilitate digital transformation, and grow customer relationships. BioCatch’s Client Innovation Board, an industry-led initiative featuring American Express, Barclays, Citi Ventures, HSBC, and National Australia Bank, collaborates to pioneer creative and innovative ways to leverage customer relationships for fraud prevention. With more than a decade of data analysis, 90 registered patents, and unmatched expertise, BioCatch continues to lead innovation to address future challenges. For more information, please visit www.biocatch.com.
Media Contact:
Jay Jones
[email protected]
404.668.0218
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View original content:https://www.prnewswire.co.uk/news-releases/biocatch-finishes-record-breaking-2023-with-largest-sales-quarter-in-company-history-302039897.html
HAMILTON, Bermuda, Dec. 19, 2024 /PRNewswire/ — FXGiants has recently launched a series of exciting bonuses. Participants on the FXGiants‘ online trading platform can now amplify their trading potential with a broad spectrum of bonuses that are tailored to fit different trading needs. These bonuses not only add extra value but also act as a safety net for traders to explore the financial markets without risking too much.
“Our goal with these deposit bonus options is to empower traders of all levels,” said Christopher Oates, the spokesperson for FXGiants. “Under this scheme, we have diverse categories, including Bonus Maximiser, Booster Bonus, and the Bonus Advantage. These bonuses are designed to provide flexibility to clients as they trade on the FXGiants online trading platform.”
Exploring the FXGiants Bonus Options
The bonus options at FXGiants come with versatile advantages. The Bonus Maximiser provides a full 100% boost on all deposits without limit, whereas the Booster Bonus offers a 40% bonus on all deposits up to $4,000 for traders who want to moderately enhance their capital. On the other hand, the Bonus Advantage provides a 60% bonus on deposits up to $5,000, giving traders a better handle on risk. These bonuses enhance the trading experience on the FXGiants online trading platform.
“At FXGiants, we are committed to a trading environment that meets the evolving needs of our clients,” Oates added. “Our online trading platform is a robust ecosystem designed to support traders with advanced execution, extensive market insights, and continuous improvements. As we move forward, we will keep expanding our offerings to ensure that traders have access to the best resources and support.”
About FXGiants
FXGiants stands out as an international broker providing access to over 300 financial instruments across 6 asset classes. Traders can operate through the popular MetaTrader 4 platform, and benefit from exceptional trading conditions such as competitive spreads, flexible leverage, and fast execution. With deposit boosters, partnership programs, an educational blog, and account types tailored to both novice and experienced traders, FXGiants remains dedicated to delivering a one-stop trading solution.
Terms & Conditions apply. Bonus cannot be withdrawn.
All trading involves risk. It is possible to lose all your capital.
FXGiants is a trade name of Notesco Int Limited; a company incorporated in Anguilla with registration number A000001800 and registered address The Valley, AI2640, Cosely Drive, 1338, AI.
Website: https://www.fxgiants.com/
View original content:https://www.prnewswire.co.uk/news-releases/fxgiants-online-trading-platform-launches-bonus-initiative-to-reward-traders-302338463.html
BEIJING, Dec. 23, 2024 /PRNewswire/ — Cheung Kong Graduate School of Business (CKGSB) successfully hosted the Western China MBA Professor Training Program in collaboration with the China National MBA Education Supervisory Committee and Shantou University School of Business on December 17 and 18, 2024. 58 professors from over 40 universities in China nationwide, mostly western China, attended this training.
Since 2007, CKGSB has been aspiring to address the pressing disparities in management education between eastern and western China with its MBA professor training program. As of 2024, the program has trained 372 professors from 155 universities across 22 provinces, 4 autonomous regions, 3 direct-administered municipality in China, indirectly impacting tens of thousands of MBA students.
This year, the training focused on social innovation and business for good, a topic many participating professors found lacking in their day-to-day teaching and research. Professor ZHU Rui (Juliet), CKGSB Professor of Marketing and Director of the ESG and Social Innovation Center, led the training. She introduced how CKGSB has been innovating with the integration of business for good in management education, and how our relevant practice-based course has already helped 2,800+ students integrate ESG into their businesses. Professor Zhu also hosted an interactive workshop with the training’s participants on how they may build this idea into their teaching.
Participants shared in their post-program survey that Professor Zhu’s teaching and her ESG Assessment map gave them a new perspective on how to balance profits and social responsibilities. Many also felt inspired on how to bridge the gap between research and practice.
Recognized in CKGSB’s 2022 and 2024 ESG and Social Innovation Reports and honored as a finalist for the 2021 China Social Impact Award by the United Nations and British Chamber of Commerce, this program exemplifies CKGSB’s impact in this critical area. Through partnerships with the government, NGOs, and business schools, this initiative has made significant progress in promoting quality education and reducing inequalities.
For more information on CKGSB’s ESG and social innovation efforts, visit our ESG and social innovation website.
About CKGSB
Established in Beijing in November 2002, CKGSB is China’s first privately-funded and research-driven business school. The school aims to cultivate transformative business leaders with a global vision, sense of social responsibility, innovative mindset, and ability to lead with empathy and compassion (https://english.ckgsb.edu.cn).
View original content:https://www.prnewswire.co.uk/news-releases/ckgsb-successfully-hosts-2024-mba-professor-training-program-for-western-china-302338458.html
VADUZ, Liechtenstein, Dec. 23, 2024 /PRNewswire/ — Wirex, a global leader in bridging traditional and digital finance, has announced the addition of VNX Euro (VEUR) and VNX Swiss Franc (VCHF) to its platform. With this integration, Wirex users can now spend VEUR and VCHF directly through their Wirex cards, streamlining everyday transactions and enhancing convenience.
Wirex cards allow users to use VEUR and VCHF in various ways. Whether users receive payments in VEUR and/or VCHF, use them for remittances (including cross-border transactions), or sell digital assets for stablecoins instead of fiat, Wirex provides the simplest solution for spending in real life. Users can instantly convert their stablecoins into fiat currency and send them directly to their bank accounts, catering to those who prefer traditional banking options.
Pavel Matveev, Co-founder of Wirex, said: “We’re excited to welcome VNX Euro (VEUR) and VNX Swiss Franc (VCHF) to Wirex. This addition allows our users to effortlessly spend stablecoins in real life, whether for daily purchases, remittances, or managing their digital assets. At Wirex, our goal is to make digital currencies as convenient and versatile as traditional money, and VEUR and VCHF are another step toward achieving that vision.”
Future Features
Additional features will be rolled out later after the launch, complementing the immediate benefits of VEUR and VCHF. These include loans and high-yield X-Accounts, both of which are growing in popularity among Wirex users. Loans offer a smart and tax-efficient way to access liquidity without selling underlying digital assets. Users can leverage their BTC, ETH, SOL, and other digital assets, as collateral for loans in stablecoins, allowing them to benefit from potential appreciation while accessing funds without triggering taxable events.
X-Accounts provide an opportunity for users to earn industry-leading yields of up to 15% APY on their stablecoin balances, enhancing the overall value proposition of holding VEUR and VCHF within the Wirex ecosystem.
Upcoming Advanced Opportunities
VEUR and VCHF have the potential to become preferred options in Wirex’s advanced trading products, such as Wirex DUO and Wirex Multiply. Notably, Euro-backed stablecoins have already demonstrated significantly higher usage among Wirex users than larger USD alternatives, highlighting strong demand for Euro-denominated trading options.
As Wirex explores adding VEUR and VCHF to these products, it aims to further strengthen its position as a leader in digital finance by offering innovative solutions that bridge the gap between traditional finance and digital assets.
Disclaimer: The term “stablecoin” is used herein in relation to VEUR and VCHF for marketing purposes. The reader however shall understand that VEUR and VCHF are fiat-referenced tokens which are described in more detail in the VNX Gold based Fiat Referenced Tokens (FRT) Terms and Conditions which are available for review at www.vnx.li
About VEUR and VCHF
Both VEUR and VCHF are multichain tokens referencing the Euro and Swiss Franc, developed by VNX, generated by a licensed token generator under the Blockchain Act in Liechtenstein. VEUR and VCHF are supported by the reserves ensuring 1:1 parity and represent a reliable digital asset in the crypto world. These tokens combine the stability of fiat currencies with the convenience of crypto, enabling quick, low-cost, and 24/7 accessible cross-border payments while opening new opportunities in DeFi.
About Wirex
Wirex is a prominent UK-based digital payments platform with over 6 million customers spread across 130 countries. It offers secure accounts, making it easy for users to store, purchase, and exchange multiple currencies seamlessly. As a principal member of both Visa and Mastercard, Wirex goes beyond traditional services, embracing the evolving trends of Web3 to provide mainstream access to digital finance and wealth management. Having processed transactions totalling $20 billion, Wirex aims to contribute to the adoption of a cashless society by facilitating straightforward transactions in various currencies worldwide. Wirex is simplifying digital payments, making it more accessible and convenient for people across the globe.
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View original content:https://www.prnewswire.co.uk/news-releases/wirex-adds-veur-and-vchf-stablecoins-to-its-platform-for-seamless-spending-302338369.html
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