Norwegian banking group DnB Nor has installed online fraud detection technology developed by Texas-based e-security vendor Entrust.The vendor says DnB Nor has installed the 'zero-touch fraud detection' component of the its risk-based authentication package.
The technology provides the bank with real-time fraud detection and historical analysis capabilities to detect and identify current and potential fraud attacks in real time.
The bank will also have access to the Entrust Open Fraud Intelligence Network, an information-sharing service designed to help combat online fraud by consolidating and sharing key fraud behaviour patterns and data among network participants.
Commenting on the implementation, Sofie Nystrom, chief information security officer at DnB NOR, says: "Our organization's goal was to implement a seamless fraud detection strategy that wouldn't require invasive integration with back-end applications - this solution enabled us to do just that."
"The fact that we could keep all of our data in-house - versus shipping it offsite - was an important capability," adds Nystrom.
Entrust chairman, president and CEO Bill Conner, says the zero-touch fraud detection capability helps DnB Nor meet current security objectives and also allows it to study key fraud data to help prevent fraud attacks in the future and potentially address them before they even occur.
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