BioCatch appoints Andreas Dombret to aid global expansion

BioCatch has appointed Andreas Dombret as a senior advisor to support its global expansion and strategic growth initiatives.

Dombret, who brings more than 35 years of experience in international banking and financial regulation, joins BioCatch with a remit to help advance the company's efforts in combatting financial crime and adapting to emerging technological threats.

BioCatch Chief Executive Officer Gadi Mazor commented on Dombret's appointment, stating, "Andreas has operated at the highest levels of financial services and financial regulation. We see his experience and perspective as invaluable additions to our team, as we continue our quest to revolutionise how the world fights fraud, scams, and financial crime."

Throughout his career, Dombret has held senior leadership positions at Deutsche Bank, J.P. Morgan, Rothschild, and Bank of America. Between 2010 and 2018, he served on the executive board of Deutsche Bundesbank, Germany's central bank, where he was responsible for bank supervision, financial stability, and market operations.

During his tenure at Deutsche Bundesbank, Dombret represented Germany on the boards of the Bank for International Settlements and the European Central Bank's supervisory board. He also participated in international forums such as the G7, G20, International Monetary Fund, Organisation for Economic Co-operation and Development, and the Basel Committee.

Dombret holds German and U.S. citizenships and is currently a senior advisor to several global firms, including Permira, which is BioCatch's majority shareholder, as well as Sumitomo Bank, Santander, Oliver Wyman, and Amazon Web Services. He holds a master's degree from the University of Münster and a PhD from the University of Nürnberg.

In addition to his advisory work, Dombret teaches finance at the European Business School in Wiesbaden and is an Adjunct Senior Research Scholar at Columbia University's School of International and Public Affairs in New York.

Reflecting on the current challenges facing the financial sector, Dombret said, "The world today is changing faster than at any point in human history. As we watch artificial intelligence tools rapidly unravel the ways in which countless industries have functioned for generations, we must remember: Criminals, historically, are among the first to adopt new technologies like these. It is a guarantee and not a mere possibility that fraud, scams, and financial crime will continue to proliferate and evolve. Financial institutions cannot afford to merely cling tighter to the status quo. The solutions of yesterday cannot compete with the scams of the present and future. I look forward to working with the BioCatch team to help financial institutions innovate in their quest to build trust and resilience in the digital age."

BioCatch works to prevent financial crime by recognising patterns in human behaviour. The company collects more than 3,000 anonymised data points, such as keystroke and mouse activity, touchscreen behaviour, and physical device attributes, during interactions with digital banking platforms. BioCatch's machine-learning models analyse these inputs to build an understanding of user behaviour and distinguish genuine users from potential criminals.

The company's Client Innovation Board, which includes partnership participation from American Express, Barclays, Citi Ventures, HSBC, and National Australia Bank, seeks to develop new approaches for using customer relationships to improve fraud detection measures.

Currently, more than 30 of the world's largest 100 banks, and a total of 267 financial institutions, use BioCatch's technology. The company analyses 14.9 billion user sessions per month and states it protects 511 million people against fraud and financial crime worldwide.