RC Olmstead signs for Digital Resolve fraud protection system

Source: Digital Resolve

R.C. Olmstead, a premier data processing company that has been serving the credit union industry for more than 25 years, has entered into an agreement with Digital Resolve, the authority in transparent, risk-based authentication for financial services institutions, to provide strong yet seamless protection against online fraud to its credit union clients using the company's Fraud Analyst solution.

R.C. Olmstead will offer Digital Resolve's Fraud Analyst risk-based authentication platform for integration into its home banking product, offering its credit union clients with a way to protect their members online – without disruption to members' normal online banking experience.

"We were looking to offer our clients an option for online fraud detection and prevention that would remain seamless yet offer the highest level of protection against online fraud," said Denny Gillott, Vice President of Sales, R.C. Olmstead. "We chose to add Digital Resolve's Fraud Analyst risk-based authentication platform to our offerings because it is a proven and deployed solution that provides the protection and ease-of-use we were looking for, it is easy to integrate and deploy, and a single platform will support all of our credit union clients."

Fraud Analyst is a real-time identity verification and risk-based authentication solution that is helping financial institutions of all sizes reduce online fraud by as much as 90 percent, and is the only solution available today that provides 360 degree protection against online fraud – from new account opening and enrollment, to login authentication to high-risk transactions. Using member behavior profiles, which create a record of the way in which members access their online accounts, financial institutions can spot and act upon suspect behavior in real time. Should a transaction meet pre-defined risk thresholds set by the financial institution, transactions can be further authenticated via a number of methods including challenge/response questions, out-of-band authentication, e-mail notification or tokens.

"We are excited to work with R.C. Olmstead to provide seamless, strong protection for their credit union clients," said Dennis Maicon, EVP of Financial Service Solutions, Digital Resolve. "Our Fraud Analyst solution will allow R.C. Olmstead to offer its clients a proven option for reducing online fraud while allowing members to proceed as normal while banking online."

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