Bharosa, a global provider of proactive, real-time fraud detection and multifactor authentication solutions, today announced that it was selected by DFCU Financial, the largest credit union in Michigan, to enable enhanced security for its online banking users.
Bharosa's Authenticator and Tracker products are helping industry leading banks and credit unions comply with security guidance from the Federal Financial Institutions Examination Council (FFIEC), calling for stronger customer authentication and fraud detection in online banking environments.
"We selected Bharosa because we want to offer our Internet customers seamless protection against fraud schemes today and those coming in the future," said Vince Pittiglio, Chief Information Officer of DFCU Financial. "In today's world of escalating online fraud threats, we believe it's not good enough to just meet current industry guidelines. Utilizing Bharosa's solution, we are taking the most proactive and user-friendly security stance for our online banking customers today and tomorrow."
In order to further secure its banking Web sites, DFCU Financial will deploy several software products from Bharosa, including real-time Bharosa Tracker fraud detection, as well as strong, multifactor authentication for online users. As one of the 30 largest credit unions in the US, and having served its members for over five decades, DFCU Financial strives to deliver leading-edge online services, including superior anti-fraud measures to protect its members.
In addition, DCFU Financial will utilize the Bharosa Universal Installation Option (UIO) to enable seamless integration of new applications with varying authentication options, which will eliminate potential frustration among both the business and end-users. By layering Bharosa software with the institution's existing online banking application, DFCU Financial will be able to strengthen online security measures without significant effort and will be able to replace some of its current service-intensive manual processes with automated, secure online services.
"Bharosa continues to gain momentum with leading financial institutions, like DCFU Financial, because we offer the easiest solution to implement and integrate, and also the most advanced in terms of second and third-factor security," said Jon Fisher, Bharosa CEO. "We help our customers to not only comply with, but also exceed the FFIEC guidelines and to enable a long-term, end-user friendly fraud strategy for their organization."