Sopra Banking Software a major digital player and trusted partner of banks, has partnered with Bottomline Technologies to offer the Company’s Cyber Fraud and Risk Management solution. The new layer of fraud protection focuses on user behavior monitoring. This real-time capability enables the identification of suspicious activity and alerts investigators when risk is abundantly clear.

“With statistics showing that 75% of fraud cases globally involve internal users or their stolen credentials, we are delighted that our core banking solution Amplitude is now able to detect suspicious user behavior and prevent internal fraud before it happens,” said David Lejolivet, Amplitude Product Strategy Director, Sopra Banking Software.

David Lejolivet said that Sopra’s decision to select Bottomline’s Cyber Fraud Risk Management Solution was based on the ability to monitor user behavioir in real-time through machine learning.

“The visual replay of the user sessions have been key aspects of our decision to select the fraud protection layer from Bottomline,” said David Lejolivet.

“Cyber fraud cases are increasing overnight and notably within the financial community,” said Daniel Bardini, Managing Director, Switzerland for Bottomline Technologies. “The persistence of such threats underlines the importance of businesses and banks monitoring users’ behavior to protect mission critical applications from internal fraud,” said Bardini.

Bottomline Technologies’ behavior monitoring functionality captures and analyzes data in real-time, leveraging behavioral analytics, profiling and grouping through dynamic configurations and rules that provide automated threat detection with immediate protection.

“When the system detects a high-risk action, our solution provides all of the tools necessary to ensure that investigators are following an approved process while quickly being able to research and make decisions,” said Bardini.

New regulations placed on Banks include fraud prevention requirements as a way to preserve customer assets.

“The combination of a fraud solution with a core banking system is a strategic milestone that enhances security for end customers,” said Bardini. “This is a strong win-win-win all parties involved.”