BANKING FRAUD

MARKET OVERVIEW

Financial services are high-value targets for cyber-criminals. End-user credentials, personal and business account data are the information needed to carry out fraud successfully. Also, banks are rapidly moving towards mobile services, having to balance between security and user experience, and focusing on innovative functionalities.

WHAT IS IT?

A Bank can experience financial fraud both on the web or mobile applications. In both cases, it comes out a concern about potential reputational damage to their online payment services.
An end-user bank application could be affected by attacks such as Overlay Malware and SMS-grabbing, which enable fraudsters to steal credentials to access customers’ accounts.

THE CHALLENGE

Banks need a solution capable of continuously monitoring the security posture of their online services. The challenge is protecting the service from fraud and security threats while keeping it easy to manage and transparent to the end-user.

OUR APPROACH

The XTN Cognitive Security Platform® is a comprehensive Fraud Protection Ecosystem. Our approach is to correlate different layers of analysis to obtain a holistic view used to detect fraudulent events. The platform considers the posture of the endpoint used to access a critical service, the digital identity of the user, and the risk profiling related to the business content of events.
We address the challenge of providing visibility about fraud attempts coming from consumer-facing or internal critical services.