Source: Digital Resolve
LGE Federal Credit Union (LGEFCU), a full-service, not-for-profit financial institution serving more than 89,000 members worldwide, has deployed Fraud Analyst, a multifactor authentication solution from Digital Resolve, the authority in transparent risk-based authentication, in an effort to provide strong protection for its members and to boost confidence in the use of online banking.
Fraud Analyst is a proven and deployed solution for risk-based authentication that provides powerful yet transparent user authentication, and is helping to reduce online fraud by as much as 90 percent. Using behavior profiles that track the way in which members normally log in to their online accounts, financial institutions can spot suspect login behavior in real time, and provide further authentication should a login transaction meet pre-defined risk thresholds set by the financial institution - all without disrupting the normal member experience while banking online. Furthermore, powerful research, analysis and reporting tools deliver unparalleled insight into the online channel, helping clients to truly understand the way in which online users interact with their web banking applications.
"We discussed at length our desire to increase the use of online banking and to make it as simple as possible for our members," said Stanley Hixon, CISSP and Network Security Administrator for LGE. "Fraud Analyst was an attractive solution for the ease of use for our members; the platform was flexible enough to fit into our existing network infrastructure; and implementation was smooth and predictable. Another thing that differentiated Fraud Analyst was its research and reporting capabilities, which paid off immediately in helping LGE to understand the login behaviors of our members."
"It's been great to work with Digital Resolve, as they delivered exactly what they said they would," added Laura King, Vice President of IT for LGE. "Many other solutions have hidden cost factors that are challenging to quantify at the outset. That was not the case when we implemented Fraud Analyst."
"We're pleased that we have been able to help LGE increase its members usage of online banking," said Dennis Maicon, Executive Vice President, Financial Services Solutions, Digital Resolve. "Fraud prevention is our focus, and helping LGE to increase confidence in the online channel and address fraud in a way that doesn't disrupt the online banking experience for members is what Digital Resolve is all about."