Corillian Corp. (NASDAQ: CORI), the top provider of online banking and anti-fraud solutions to leading financial institutions, and Quova, Inc., the world's leading provider and developer of web geography services and technologies, today announced a strategic partnership to more effectively protect the online presence websites of leading financial institutions and eCommerce organisations from Internet-based attacks.
The partnership is a response to the demands of a financial services industry under siege from phishing attacks, which according to the Anti-Phishing Working Group are growing at the rate of over 40 per cent a month, up to nearly 13,000 in January alone.
Corillian and Quova have integrated Quova's flagship GeoPoint geolocation service with the Corillian Fraud Detection System, the industry-leading early warning system for online attacks on websites, to identify the geographic location, ISP and organisation associated with each website visitor. The combined offering will enhance an organisation's ability to proactively identify phishing sites under development, detect fraudulent behaviors, examine potential compliance issues, and protect the online assets and reputation of the organisation.
"Quova's capabilities in geolocation data and analysis, and their responsiveness as an organisation, made them the ideal partner," said Jim Maloney, chief security executive for Corillian. "Being able to instantly determine every website visitor's true location and routing information is enabling us to better secure the websites of some of the nation's largest financial institutions and help them preserve and protect the trust of their customers."
The Corillian Fraud Detection System is a patent-pending web log analysis solution and methodology providing organisations with an innovative way to proactively address online fraud using a technique called Preemptive Forensics. Unlike other available anti-phishing techniques that wait to work until a phishing attack is launched, the Corillian Fraud Detection System provides organisations with a way to identify phishing behaviors before they turn into attacks on the organisation and its customers. The extensive rule base in the Corillian Fraud Detection System is not only effective against phishing attacks, but can detect many other types of cyber fraud and cyber attacks, and provides valuable information to help with anti-money laundering, regulatory compliance and web site reliability issues.
"Quova's partnership with Corillian will help meet a critical need for online financial services providers and other organisations – protecting themselves and their customers from Internet attacks at a time when those attacks are multiplying exponentially," said Gary Jackson, Quova's EVP of worldwide operations. "Corillian is driving the innovative solutions needed to address the growing dangers presented by a dynamically changing Internet. We're proud to join them in the effort to create and deploy those solutions across the marketplace."