Fundtech (Nasdaq:FNDT), a market leader in global transaction banking solutions, today announced that it has integrated the Fraud Analyst Engine from Digital Resolve into its CASHplus cash management product to offer clients a new layer of protection in the fight against online fraud.
Digital Resolve is a leading provider of online fraud detection and prevention solutions,
Digital Resolve's Fraud Analysis Engine takes a hybrid approach to fraud detection by combining predictive analytics with behavior analysis and account-specific rules that are easily tailored to the specific needs of individual clients. According to Digital Resolve, it can detect and act upon fraudulent activity in real time, and is currently providing up to a 90 percent reduction in fraud for the online channel by protecting users across every online session and touch point.
With the integration of the Fraud Analysis Engine with CASHplus, Fundtech clients will benefit from a solution that provides real-time alerts on suspicious activity as well as a robust suite of reporting, research analytics and forensics tools.
Rabobank is the first Fundtech client to have the Fraud Analysis Engine in production. According to Jeff Hall, Vice President and Senior Systems Manager, Rabobank: "Rabobank is committed to the safety and security of our customers' accounts and information, Part of that commitment is demonstrated through the strong measures we take to safeguard the online experience of our corporate customers. After performing extensive testing, Rabobank recently moved Digital Resolve's Fraud Analysis Engine security tool into production. As part of a layered security strategy, it has proven to be very easy to use while providing a valuable additional level of fraud detection."
"We're pleased to be working with Fundtech to offer its clients a new layer of protection against today's dynamic fraud attack vectors," said Bob Pavich, Vice President of Fraud Solutions, Digital Resolve. "By adding the Fraud Analysis Engine into its overall security model, Fundtech is providing clients full online-session protection that addresses a wide array of attack vectors including socially-engineered and malware-based attacks."