FraudMAP® Version 4 redefines online banking fraud prevention with advanced behavioral analytics that is easy to deploy and maintain
New York, FinovateFall, October 5, 2010 —Guardian Analytics, the innovator in predictive analytics-based fraud prevention software, today announced the availability of FraudMAP Version 4 at the FinovateFall Conference in New York City. With FraudMAP Version 4, the company debuts a new SaaS delivery model, advances its proven behavioral analytics capabilities, adds features to simplify fraud investigations, and offers new flexible packages to match budget and feature needs. As a SaaS solution, FraudMAP is easy and fast to deploy and requires minimal IT resources, enabling financial institutions of all sizes to benefit from the holistic online fraud protection needed to address the growing threat of online banking cyber crime and avoid millions of dollars of losses.
"Financial institutions of all sizes are under attack by worldwide crime rings with more manpower and financial resources than banks will ever have," said George Tubin, senior research director, Tower Group. "An effective approach to protect against the many different types of online fraud is through a deep understanding of legitimate customer behavior. Behavioral analytics-based solutions which are affordable and easy to maintain will help to protect small and medium financial institutions that are particularly strained for resources."
With FraudMAP Version 4, Guardian Analytics is launching its SaaS delivery model, reducing the time and resources required for financial services companies to deploy FraudMAP. Implementation is simple and requires little to no IT support, with customers up and running in as little as one week in Guardian Analytics' SAS70 Type II certified environment. Eliminating the need for ongoing IT support, the Guardian Analytics Network Operations Center staff provides complete maintenance services, monitoring FraudMAP 24x7 and continually tuning for performance, availability and security.
In addition to the SaaS delivery model, FraudMAP Version 4 boasts significant new features in the FraudMAP Risk Engine and FraudMAP Risk Application including:
"The assaults from cyber criminals are creating an avalanche of costs stemming from fraud losses, investigation, remediation, customer churn and reputation damage," said Terry Austin, CEO of Guardian Analytics. "Criminals are now targeting regional and community banks, and by making advanced protection accessible and available to all institutions, we can help them instantly and transparently protect all of their online customers and the future of their businesses."
FraudMAP Version 4 has two unique applications, FraudMAP for Retail Banking and FraudMAP for Business Banking which are both available immediately. Pricing for smaller institutions starts at less than $1,000 per month. Each application is available in multiple editions: Prevention, Analysis, and Interactive, allowing financial institutions to select the offering most appropriate for their budget and business needs.
About Guardian Analytics
Headquartered in Los Altos, Calif., Guardian Analytics is focused on the prevention of online account fraud. The company's risk management approach to fraud detection, forensics and risk monitoring is built on strong analytics and predictive models of individual behavior. Over 30 institutions rely on Guardian Analytics to protect individual account assets and the integrity of their online channels. Founded in 2005, Guardian Analytics is privately held with venture funding from Foundation Capital and Sutter Hill Ventures. For more information, please visit www.guardiananalytics.com.