Company to enable financial institutions with modern fraud prevention technology to address modern banking fraud and social engineering
Mountain View, CA —April 12, 2016 —– Guardian Analytics, the market leader in behavioral analytics and machine learning solutions for preventing banking fraud, today announced a legacy fraud prevention replacement program, targeting financial institutions that need to improve their Business Email Compromise and wire fraud detection and are currently using NICE Actimize. The program aims to accelerate financial institutions’ ability to implement the modern fraud prevention solutions from Guardian Analytics needed to prevent today’s sophisticated criminal attacks, support aggressive bank operational efficiency objectives and increase bank agility in releasing new products and enhancing modern channels.
“Large financial institutions consistently report that their legacy fraud prevention solutions are putting them in double jeopardy by both failing to detect fraud and increasing operational costs. This slows them down at a time when innovation is paramount for success,” commented Eric Tran-Le and Hue Harguindeguy, Co-CEOs at Guardian Analytics. “We created this program to help FIs validate that our solutions offer fast time to deployment, better fraud detection performance for sophisticated wire fraud and Business Email Compromise, and reduced costs over their current solution. A complementary custom assessment for each financial institution will ensure the right approach to the program.”
Older, scenario-based fraud prevention solutions are struggling to detect the wide range of cyber fraud, social engineering, and cross-channel fraud attacks waged at financial institutions. To manage the risks of the products and service levels demanded by modern omni-channel banking customers, it is critical for financial institutions to deploy the latest behavioral analytics and machine learning techniques. These techniques eliminate the need for banks and credit unions to know exactly what fraud looks like to detect it and therefore increase prevention, reduce alert volumes, and eliminate the need for staff or professional services spend to maintain scenarios and train algorithms.
Guardian Analytics solutions are proven at large financial institutions across a variety of channels and payments. Benefits include:
- Accurate detection of the widest range of fraud attacks including cyber attacks, cross-channel account takeover as well as rampant social engineering attacks such as a Business Email Compromise initiated payments
- Rapid time to security with turnkey integrations with enterprise payments and banking platforms and a real-time API
- Leading visual analytics that provide actionable insights, rich behavioral context to speed investigations and enable informed conversations
- Enterprise risk database to consolidate alerts from existing fraud prevention solutions, including NICE Actimize
- Real-time risk-based intervention to drive automated transaction release and intervention
- No ongoing maintenance costs – Guardian Analytics dynamically updates account holder profiles, adapting automatically to new user behavior and new criminal attacks
About Guardian Analytics
Guardian Analytics is the pioneer and leading provider of behavioral analytics and machine learning solutions for preventing banking fraud. Over 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.