Proactively Detect Mobile Banking Fraud – Go Mobile with Confidence
FraudMAP Mobile is the first and only anomaly detection solution purpose built for the mobile channel. It uniquely uses behavioral analytics to transparently monitor every mobile banking session and identify the suspicious activity in the mobile banking channel.
The mobile phone is a under attack
As mobile banking, mobile payments and the mobile wallet gain traction, criminals are escalating their attacks on the mobile phone.
- Security researchers report a 155 percent increase in mobile malware in the last 12 months, with a 3325% increase in Android-specific malware.
- Infected banking and end-point security applications are on app stores
- Criminals are tricking users into downloading fake security apps
- Criminals can use WIFI networks to control phones and redirect transactions, remove security protocols, capture usernames and password for payments and online banking access
- Criminals successfully distribute malware through SMS messages and Facebook
And, consumers' less than vigilant behavior on mobile phones (connecting to unknown networks, downloading apps, clicking on SMS messages) provides an easy way for criminals to take over phones, control applications and steal information.
With the phone as the vulnerability, banks cannot rely on the device for security.
Financial institutions must act now to protect their mobile customers with a layer of defense completely independent of the device itself.
Introducing FraudMAP Mobile
Key FraudMAP Mobile Capabilities:
- Automatically monitors every mobile banking session from login to logout, comparing activity to each account holder's established patterns of normal mobile banking behavior
- Develops an overall behavioral fingerprint that takes channel use and preferences into account (mobile vs. online)
- Proactively identifies multiple mobile accounts under simultaneous attack
- For integrated online/mobile platforms, delivers a combined view of online and mobile banking sessions plus ability to search, report and filter on just the mobile channel
Use FraudMAP Mobile to:
- Expand mobile banking services with confidence, knowing that you're not increasing fraud risk
- Transparently monitor all account holders without affecting their mobile banking experience
- Proactively intervene before fraudulent transactions, cross-channel fraud or identity theft occurs
- Conform to FFIEC Guidance Supplement requirements for anomaly detection for mobile banking as well as for online banking
- Proactively identify multiple mobile accounts at risk from the same threat
- Know your clients' channel preferences to assess risk and improve services
- For integrated mobile and online banking platforms, see a combined view of clients' online and mobile banking activity, distinguishing between the two where needed
Flexible deployment options
You can choose our SaaS deployment to use your in-house staff to monitor online banking, or our managed service, FraudDESK. Now financial institutions of all sizes can offer industry's best mobile banking fraud prevention solution with minimal impact on staffing, low IT involvement, and no maintenance costs.
FraudMAP Mobile Overview
An in-depth description of FraudMAP Mobile and how it works to prevent mobile banking fraud.
Request a live, personalized online demonstration of how FraudMAP uses behavioral analytics to stop fraud attacks.
Schedule a Demo
The Double Edged Sword of Mobile Banking
This white paper presents the current trends in mobile banking, fraud threats and consumer behavior that result in increased risk, and strategies for preventing mobile banking fraud.
FraudMAP Mobile Video Overview
Hear about the growing use of mobile for banking, how that leads to increased fraud threats, and what financial institutions can do to secure the mobile channel.