Source: FundsXpress Financial Network
FundsXpress Financial Network, Inc., the premier provider of online financial services, recently released the fxSecurity solution to all client financial institutions.
The fxSecurity suite provides the most comprehensive anti-fraud and risk analysis tools in the industry and gives clients a considerable advantage in the marketplace.
The fxeValidation Engine, one of the fxSecurity multi-level tools, uses statistical formulas and behavioral analysis to evaluate a user's typical Internet banking activity. To validate user online activity, the suite's fxIdentity Verification monitors logins and alerts financial institutions to deviations from the user’s activity profile. The fxDual Authentication tool provides financial institutions the option to implement additional authentication levels before gaining access to fx eBanking and fxBusiness Banking platforms.
"It is critical that Online Banking users are provided additional protection from the rising incidence of phishing, identity theft and other types of online fraud," said Greg Constantine, FundsXpress executive vice president of client operations. "Recent guidance from regulators requires financial institutions to perform risk assessments on their authentication processes and achieve compliance no later than year-end 2006. Our fxSecurity suite provides clients with the industry's leading integrated anti-fraud and risk analysis solution at no-cost to our financial institutions."
"Internet banking has become an integral communication and transaction channel for our customers and we are extremely pleased with FundsXpress’ ability to quickly respond to one of the most pressing issues facing online consumers today," said Andy Littlejohn, president of City National Bank of Taylor. "The fxSecurity solution exceeded our financial institution’s security requirements and allows us to respond to the FFIEC guidelines several months before the required deadline."