Guardian Analytics introduces fraud monitoring managed service

Source: Guardian Analytics

Guardian Analytics, the market leader in behavioral analytics-based fraud prevention solutions, today announced FraudDESK™, the industry's first fraud monitoring managed service.

FraudDESK provides short or long-term fraud analytics support and fraud expertise to any financial institution regardless of size, IT staff or fraud prevention resource availability. With FraudDESK, institutions can immediately deploy FraudMAP®, Guardian Analytics' SaaS-based fraud prevention software, to instantly protect 100 percent of online account holders from the widest array of cyber threats with no training and no staffing changes. FraudMAP provides the anomaly detection and transaction monitoring capabilities needed to meet the minimum expectations for online banking security established in the FFIEC Authentication and Internet Banking guidelines and combined with FraudDESK, can now be launched without staffing a new project, changing staff assignments or undergoing training.

"Banks and credit unions have their hands full with new regulations, new product offerings and now the updated FFIEC expectations for layered security," said Terry Austin, CEO of Guardian Analytics. "FraudDESK offers financial institutions an easy way to check off minimum FFIEC expectations without pulling resources from other vital projects. Our flexible program allows customers at any time to fold FraudMAP's easy to use monitoring and investigation capabilities back into their own operations."

At the heart of FraudDESK is FraudMAP for Business Banking and FraudMAP for Retail Banking, Guardian Analytics' proven behavioral analytics software that detects suspicious behavior at the individual account holder level that is indicative of account takeover, account reconnaissance and fraudulent wire, ACH, bill pay and other transactions. Unlike other fraud solutions, FraudMAP is not threat specific, does not require action on the part of account holders and automatically protects against a wide array of attacks including those that stem from phishing, vishing and Man-in-the-Browser schemes.

With FraudDESK, institutions can have the confidence that each individual online retail and commercial account is under the watchful eye of both FraudMAP and an experienced Guardian Analytics fraud analyst who can rapidly investigate any high-risk sessions and escalate critical accounts. Institutions can proactively respond before any money is lost.

FraudDESK customers benefit from Guardian Analytics' deep fraud expertise as well as the company's unique visibility into the latest threats and fraud attacks occurring across a number of institutions. Analysts provide valuable reporting and analysis helping financial institutions to expand their understanding of online product use, customer behavior and risk trends.

"With FraudDESK, we do the work, and institutions get the credit with their regulators, and more importantly, their account holders," continued Austin. "Every account compromise and fraud detected builds confidence that the institution is appropriately managing the risks of online banking and each proactive outbound call builds trust and loyalty with customers."

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