Financial institution Macquarie Bank turns to BioCatch Trust for enhanced protection against fraudulent activities.
Macquarie Bank has announced its joining of BioCatch Trust Australia, a fraud intelligence-sharing network among APAC banks. This collaboration was officially announced on August 25, 2025.
The network, launched in November 2024, initially had five founding members: ANZ, Commonwealth Bank of Australia, National Australia Bank, Suncorp Bank, and Westpac. With Macquarie Bank's addition, the network now protects more than 85% of the country's online banking population.
Macquarie Bank's decision to join BioCatch Trust Australia is part of their broader scam-prevention initiatives. These initiatives include real-time payment controls, behavioural biometrics, and their standalone two-factor authentication app, Macquarie Authenticator.
The network is effective against scams initiated outside digital banking sessions, such as those initiated via email, phone, or social media. For customers, the platform delivers an additional line of defence by detecting high-risk receiving accounts in real time.
Gadi Mazor, CEO of BioCatch, has expressed pride at the addition of Macquarie Bank to BioCatch Trust Australia. He said, "We are thrilled to welcome Macquarie Bank to our network. Their commitment to innovation and customer protection strengthens our shared mission to combat scams and protect Australians from financial harm."
David Sheehan, Head of Client Protection at Macquarie Bank, stated, "We look forward to working with BioCatch Trust Australia to add another layer of security protection for Australians."
Since its inception, BioCatch Trust Australia has evaluated over $500 billion in payments, preventing millions of dollars in potential losses. The network protects customer privacy through robust pseudonymisation technology. The addition of Macquarie Bank enhances the platform's scope, resilience, and ability to combat increasingly sophisticated fraud schemes.
This move by Macquarie Bank is a significant step towards enhancing the security of digital banking in Australia. With more banks joining the network, it is expected that the fight against fraud and financial crime will become more effective, ensuring a safer online banking environment for all Australians.
