US Bank implements Entrust fraud detection technology

US Bank implements Entrust fraud detection technology

US Bank has implemented Entrust's Zero Touch Fraud Detection software to comply with the new Federal Financial Institutions Examination Council (FFIEC) guidelines.

As well as requiring banks to implement multi-factor authentication for Internet banking customers, the FFIEC rules also require them to monitor online transactions in order to detect suspicious activity.

Financial Institutions will be expected to achieve compliance with the FFIEC guidance no later than year-end 2006.

Entrust says its technology screens online banking transactions for potentially fraudulent behaviour. The data stream technology can extract real-time actionable intelligence from patterns of online activity without invading online business applications.

Dallas-based Entrust acquired the technology when it bought out Business Signatures in July.

Commenting on the US Bank deal, Peter Relan chief strategist and president of the Entrust Business Signatures division, says: "Our growing list of top financial customers reflects industry recognition that online fraud detection is a top priority."

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