HSBC USA, the US banking unit of one of the world's largest financial services companies, and VeriSign, (NASDAQ: VRSN), the leading provider of intelligent infrastructure services for the networked world, today announced an agreement for HSBC USA to deploy the VeriSign Identity Protection (VIP) Fraud Detection Service (FDS) to enhance the protection it provides to customers to prevent identity theft and fraud.
"The VeriSign Fraud Detection Service provides additional online authentication and fraud monitoring, which will enhance the measures the bank already employs to safeguard customer information and assets when banking over the Internet," said Martin Hayes, senior vice president and head of e-business, HSBC USA. "Protecting customers' accounts and identities is of paramount importance."
VIP FDS includes a state-of-the art risk engine that offers layered, risk-based authentication and fraud prevention capabilities. VIP FDS runs behind the scenes, utilizing advanced anomaly detection technology which flags potentially fraudulent activity while continuing to ensure a favorable user experience and timely delivery of services.
"We are extremely proud that HSBC has put its trust in VeriSign," said Judy Lin, executive vice president and general manager, VeriSign Security Services. "We are confident that our solution will protect the online identities of HSBC consumers and allow HSBC to meet specific regulatory requirements, such as the FFIEC guidance, by the end of 2006."