ICT and Actimize integrate technologies for online fraud prevention

Source: ICT Group

ICT GROUP, INC. (NASDAQ:ICTG), a leading global provider of customer management and related marketing, technology and business process outsourcing (BPO) solutions, together with Actimize Inc., a leading provider of enterprise technology solutions for fraud detection and prevention, today announced an online fraud prevention solution incorporating key components from both companies.

ICT GROUP and Actimize will provide an integrated automated alerting solution for financial institutions concerned with the growing trend of online fraud. ICT GROUP will support Actimize's recently launched Online Fraud Prevention 2.0 solution, providing advanced interactive voice response (IVR) technology to proactively alert customers of potential fraud and validate their identity through the use of one time passwords delivered using automated messages.

"We are excited to be partnering with Actimize, a leader in fraud detection, notification and prevention for the financial services industry," said John J. Brennan, Chairman and Chief Executive Officer of ICT GROUP. "This strategic co-marketing initiative is just another example of our rapidly expanding services offering, and we are pleased to be offering this high-value, cost-effective IVR Fraud Alerts alternative to existing and prospective financial services clients, helping them to ensure safe, secure and reliable online transactions for their end user customers."

The Actimize Online Fraud Prevention Solution offers risk-based authentication combined with financial fraud detection, and has been integrated with ICT GROUP's IVR technology. The Actimize solution calculates a risk-based authentication score using passive authentication data, session data, and enterprise data and determines if and when additional user authentication is needed. When warranted, the Actimize solution can initiate sending a message and one time password to the user through the ICT GROUP IVR system. The Actimize Online Fraud Prevention Solution is able to detect and prevent account financing fraud, phishing and account takeover, payment fraud, trading fraud, and more.

"ICT GROUP's automated solution is a great choice for financial institutions that want a cost-effective means to validate an online user's identity," said David Sosna, Actimize CEO. "Combined with Actimize's highly accurate authentication risk scoring, the combined solution provides 2-factor authentication with minimal end-user disruptions."

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