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Guardian Analytics Introduces New Anomaly Detection Solution to Protect Mobile Banking Channel

MOUNTAIN VIEW, Calif. April 24, 2012 Guardian Analytics FraudMAP Mobile

Mobile banking is growing rapidly and represents a strategic opportunity for financial institutions to connect with customers. More than 19 million consumers use mobile banking now, expanding to 44 million users by 2013, according to the Aite Group. But security concerns have financial institutions and consumers on edge – 88 percent of financial institutions believe mobile banking poses a significant risk (Aite Group) while the number one reason consumers don’t adopt mobile banking is fear about their security (Javelin).

Cybercriminals are escalating their attacks on mobile phones using SMS messaging, malicious mobile applications disguised as legitimate application, and criminal-controlled Wi-Fi networks. Experts predict their activity will increase in 2012.

Julie McNelley

About FraudMAP Mobile

FraudMAP Mobile provides financial institutions with the most advanced and effective approach to protecting mobile and tablet banking users. Built using the same innovative behavioral analytics that protects online account holders at over 150 financial institutions, FraudMAP Mobile is the first anomaly detection solution purpose-built for the mobile banking channel. FraudMAP Mobile proactively alerts financial institutions to suspicious mobile behavior across all mobile experiences, including SMS banking, mobile Web banking and downloadable mobile applications. FraudMAP Mobile provides the following:

  • A layer of security separate from the device providing transparent monitoring and analysis of all mobile banking activity for all mobile users;
  • In-depth analysis of mobile banking activity to develop a mobile-specific behavioral model unique to each mobile banking user;
  • Rich mobile banking activity history critical for understanding mobile risks, mobile adoption and mobile usage;
  • Link analysis to proactively identify multiple accounts at risk; and
  • Support for mobile banking platforms integrated with online banking platforms as well as standalone mobile platforms.

Using FraudMAP Mobile, financial institutions can proactively prevent fraud in the mobile and other banking channels and warn customers of potential identity theft. With the confidence that the channel is proactively monitored and protected, financial institutions can also confidently expand their mobile banking products and services.

Terry Austin

Availability, Pricing and Webinar

FraudMAP Mobile is available immediately and complements Guardian Analytics’ proven line of fraud prevention solutions, including FraudMAP Online. Pricing is based on the number of mobile users at a financial institution.

The Double Edged Sword of Mobile Banking Thursday, April 26 1:00 p.m. EST Julie McNelley

About Guardian Analytics

Mountain View, Calif.


SOURCE Guardian Analytics

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