Annual results from the Alkami-BioCatch partnership demonstrate the impact of behavior-based fraud prevention and highlight customer experiences from Gate City Bank and Raiz Federal Credit Union.
PLANO, Texas, Oct. 9, 2026 /PRNewswire/ — Alkami Technology, Inc. (Nasdaq: ALKT) (“Alkami”), a digital sales and service platform provider for financial institutions in the U.S., today announced that its customers using BioCatch through the Alkami Digital Banking Platform prevented over $263M in fraud during 2025, according to data shared by BioCatch.
The results are being shared during Alkami’s Cybersecurity Awareness Month, a time that highlights the importance of maintaining strong security practices throughout the year. Cybercriminals use a range of tactics to gain access to online banking accounts, from harvesting credentials through phishing attempts to manipulating users into…
Identity theft is the “foundational” fraud upon which many other crimes are built. It involves the unauthorized acquisition and use of a person’s personal identifying information (PII), such as an ID number, Social Security number, or passport details.
- How it works: Fraudsters obtain PII through data breaches, mail theft, or “social engineering” (tricking people into revealing details). Once they have this data, they can open new bank accounts, apply for credit cards or loans, and even receive medical treatment under your name.
- Synthetic Identity Fraud: A sophisticated variation where criminals combine real and fabricated information to create a completely new, “synthetic” person. This is particularly difficult to detect because there is no single victim to report the suspicious activity initially.