Silicon Valley Bank licenses Bharosa anti-fraud software
Bharosa, a global provider of active fraud detection and multifactor authentication solutions, today announced that SVB Silicon Valley Bank is successfully utilizing anti-fraud software from Bharosa to power a state-of-the-art security solution for online banking.
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This announcement marks the six-month anniversary of SVB Silicon Valley Bank's deployment of the software. The aggressive stance taken by the company to combat fraud shows its ongoing commitment to finding the most novel and visionary ways to protect its clients' interests. The company implemented anti-fraud protections well before such measures became a federal regulatory requirement for banks.
"It is important to our technology-focused clients that we demonstrate our commitment to the most secure, efficient technologies available for their online banking requirements," said David Webb, chief information officer of SVB Financial Group, the parent company of SVB Silicon Valley Bank.
Today, all online client accounts at SVB Silicon Valley Bank are currently protected at login by enhanced security features. These include some of the industry's most advanced capabilities for fraud monitoring, as well as stronger authentication for the login ID and password.