Online Account Fraud Detection and Prevention Required

Online fraud detection and prevention remain a priority for online banking security. Online accounts are under attack. Customer financial and information assets remain at risk. The integrity of your online channel is at risk. Your brand reputation is at risk. Financial institutions simply do not have the resources to anticipate and respond to every possible online fraud threat. Today’s attacks expose the inadequacies of yesterday’s online fraud prevention technologies, which cannot keep up with organized fraudster networks and their alarming pace of innovation.

Preventing fraud in the online environment is a hard problem to solve.  Fraudster tactics rapidly evolve, and today’s online account fraud often doesn’t look like fraud at all.  In fact, fraudsters can look exactly like how you expect and even want your customers to behave online.  Accurate detection is made even more difficult because today’s fraudsters use multi-channel fraud methods that combine online reconnaissance with offline transactions–in which the online activity looks perfectly acceptable but amounts to the early stages of a fraudulent attack.  With the flood of online banking session traffic, identifying the truly suspicious online activities that deserve action by limited fraud resources is like finding a needle in a haystack.

A Solution Built for Preventing Online Fraud

Guardian Analytics FraudMAP® delivers actionable and accurate fraud detection by identifying behavior inconsistent with individual account holder expected behavior. The solution automatically spots fraud tactics previously unknown or unanticipated to protect online channels using two critical components:

• A Risk Application featuring finely tuned alert management capabilities and a rich visual analytic interface to power investigation, resolution, and risk monitoring
• A Risk Engine that detects new and emerging fraud schemes using strong analytics and predictive models of individual online customer behavior

FraudMAP was built from the ground up to specifically address the online account fraud problem.  It spans the gap from strong authentication to transaction monitoring technologies with superior in-session activity modeling, granular risk scoring, and behavior-based analysis capabilities.

FraudMAP Optimizes Anti-Fraud Efforts with Actionable Analysis

The Guardian Analytics solution is unique in its ability to protect any online service from fraud related losses to revenue and reputation–without inconveniencing customers. As a back-end, transparent technology tracking and identifying anomalies in online behavior, account by account, FraudMAP is able to detect fraud patterns both known and unknown. It monitors online activity session by session, from login to logout, to detect suspicious actions and red flag behaviors inconsistent with past account activity.  With its high fidelity risk scoring, the solution returns more accurate alerts with session-specific context and rich customer history for easier fraud forensics and investigation.

Guardian Analytics makes your anti-fraud effort more proactive and optimizes available resources. No longer do you have to make a trade-off between enhanced security and a frictionless customer experience. As part of a company’s holistic risk management approach to fighting fraud, FraudMAP delivers actionable information supporting cross-functional business processes from online operations to information security to customer support.

"The Guardian Analytics approach looks as if it can scale to meet the needs of larger organizations, and generally we like what we see."

Nick Selby