Corillian Corp. (NASDAQ: CORI), the market leader of online banking and anti- fraud solutions for leading financial institutions, and NameProtect Inc., a leading provider of online security and brand management solutions, today announced a strategic partnership in an effort to more effectively prevent phishing and other fraudulent attacks against financial institutions and e-commerce Web sites.
Corillian and NameProtect will jointly sell and market the Corillian Fraud Detection System with NameProtect's cutting-edge anti-fraud solution, NameProtection. The combination of these industry-leading solutions will enable financial institutions and e-commerce organizations to more efficiently monitor the online channel and thwart phishing and other online fraudulent activities, increase consumer confidence in the preservation of online user identities, and protect the online assets and reputation of the organization.
Currently, more than 30 financial institutions have selected the Corillian Fraud Detection System to help them proactively detect, investigate and respond to phishing and other forms of online fraud attacks. Working in tandem with NameProtect's anti-fraud solution, a top 10 financial institution recently saw a greater than 90 percent reduction in phishing incidents, virtually eliminating the successful phishing attacks related to its online banking service in as little as 30 days.
"NameProtect's ability to combat online fraud and identity theft in combination with Corillian's Fraud Detection System provides an industry solution that delivers a comprehensive approach to protecting the online channel from misuse and abuse," said Jim Maloney, chief security executive at Corillian. "This partnership truly increases the extent to which a user's identity is protected and ensures phishers will find it increasingly difficult to create and deploy fraudulent Web sites."
Key features and benefits of the joint Corillian Fraud Detection System and NameProtection solution include:
- Phishing protection: Proactive detection, investigation and response to phishing activity combined with brand-specific protection for your organization to cut the high labor cost of preventing fraudulent activity
- Domain/Pharming protection: All new and existing domains are scanned to protect the organization from being hijacked or phished using variations of domain names
- Site deactivation: Real-time exclusion and de-activation services to take down active phishing sites
- Web-based informational portal: Access to NameProtection's Web portal with industry-leading work flow for status information, violation tracking, and an identity theft bulletin focusing on online fraud and identity theft trends, responses and programs
"NameProtect and Corillian have been effective against phishing and other fraud attacks as stand-alone products for Internet-based companies or financial institutions," said Kevin Omiliak, vice president of sales and marketing for NameProtect. "With the end-to-end solution we have created through this partnership, all institutions can easily integrate a highly secure, enterprise-level phishing and fraud protection solution to protect themselves and their customers from online fraud. We're very pleased to join Corillian in offering such a comprehensive solution."
The Corillian Fraud Detection System is a patent-pending Web log analysis tool and methodology that provides organizations with an innovative way to proactively analyze, and act on, potential phishing and electronic fraud threats. Unlike other available anti-phishing products that wait to work until a phishing attack is launched, the Corillian Fraud Detection System uses the technique of Preemptive Forensics to identify phishing and other types of fraudulent behaviors before they turn into full-fledged attacks.
NameProtect's NameProtection service scans on a 24x7 basis a broad range of online content—including domain names, web pages and unsolicited e-mail—to identify potential fraudulent web sites and attacks for clients and provide them with daily, continuous alerts of such attacks through an online web interface and workflow tool. This full service program offers organizations a comprehensive, yet easily affordable anti-phishing and anti-fraud solution.