Mountain View, CA —April 18, 2016 —– Guardian Analytics, the market leader in behavioral analytics solutions for preventing banking fraud, today announced Omni-Channel Fraud Prevention, the industry’s first solution that offers integrated and unified fraud prevention across multiple banking channels and payments. Additionally, with new Omni-Channel Visual Analytics, financial institutions (FIs) have unique 360 degree insights into customer fraud risk and behavior, and an unparalleled cross-channel view of criminal activity. With these new solutions, Guardian Analytics delivers the industry’s most advanced fraud prevention and real-time control over fraud risk.
“Financial institutions are under unprecedented pressure from the confluence of escalating fraud threats, new customer experience demands, heavy competition, and efficiency requirements,” said Eric Tran-Le and Hue Harguindeguy, Co-CEOs at Guardian Analytics. “Legacy techniques such as identity-based authentication and threat-specific, point or rule-based detection, not only fail to prevent today’s rampant and diverse fraud attacks, they fail to support customer, innovation and operational goals. New requirements for fraud prevention are emerging and FIs are prioritizing analytics solutions that use behavior rather than identity, take a holistic view of the customer, are adaptable, reduce friction, and lower costs.”
Julie Conroy, Research Director at Aite Group, adds: “Given the current business and threat climate, financial institutions must evolve their approach to fraud prevention. Our research shows that FIs are prioritizing and investing in behavioral analytics because they effectively use the one thing criminals can’t breach – customer behavior – and they are resilient to changing threats. Guardian Analytics is driving important advances in behavioral analytics in the industry with their Omni-Channel platform, while helping banks break down channel and payment specific silos.”
The new additions to the Guardian Analytics behavioral analytics solution improve fraud prevention, increase agility to changing fraud schemes, speed risk decisioning, and eliminate operational silos, all while enhancing the customer experience. The Omni-Channel Fraud Prevention capabilities will be delivered in phases and include:
- Omni-Channel Visual Analytics – Industry-leading user interface providing a real-time and consolidated view of fraud risk for each and every customer, with an in-depth presentation of customer risk and behavior over time, including risk and account data from other systems. Retail bankers gain an omni-channel perspective on consumers and commercial bankers increase their cross-product insights.
- Enterprise API – Real-time API for banks to capture data about customer behavior and context for all banking transactions, profile changes and inquiries across any channel, including mobile, online, contact center, or branch into the Guardian Analytics platform.
- Integrated Risk Database – Dynamic store for FI-uploaded risk, account and intelligence data – IP reputation lists, alerts from other security and case management solutions, data breaches, high risk or dormant accounts – that can be used to enhance risk scoring and investigations.
- Omni-Channel Risk Scoring – Real-time advanced behavioral analytics that calculate holistic risk scores for each individual customer using unified channel context, customer activities and transactions and location data, combined with data from the Integrated Risk Database.
“We have always been impressed with the technology and the results we’ve seen from Guardian Analytics’ solutions,” explained Zahid Afzal, Chief Technology and Operations Executive from Capital Bank in Raleigh, North Carolina. “The new Omni-Channel solutions provide us with even better defenses and more visibility into our customers and their fraud risk levels, which are central to our ability to expand our offerings and deliver the faster, lower friction experience our customers demand.”
“Guardian Analytics pioneered the use of behavioral analytics and machine learning for preventing banking fraud,” continued Pacalin. “With our proven behavior-based technology, our experience with data, and our leading visual analytics, we are the only provider in a position to provide an omni-channel fraud prevention platform. We are delivering the innovations the banking industry needs to protect themselves and their customers from an equally innovative nemesis, today and in the future.”
The first phase of Omni-Channel Fraud Prevention features Omni-Channel Visual Analytics. The early adopter program begins immediately. Subscription pricing for larger financial institutions starts at $50,000 per year. For more information on Guardian Analytics Omni-Channel Fraud Prevention, please visit GuardianAnalytics.com.
About Guardian Analytics
Guardian Analytics is the pioneer and leading provider of behavioral analytics and machine learning solutions for preventing banking fraud. More than 400 financial institutions have standardized on Guardian Analytics’ innovative solutions to mitigate fraud risk and rely on the company to stop the sophisticated criminal attacks targeting retail and commercial banking clients. With Guardian Analytics, financial institutions build trust, increase competitiveness, improve their customer experience and scale operations. Guardian Analytics is privately held and based in Mountain View, CA. For more information, please visit www.GuardianAnalytics.com. Guardian Analytics is a registered trademark of Guardian Analytics, Inc.