FFIEC Compliance

On June 28, 2011 the FFIEC released an update to its initial 2005 Authentication guidance entitled “Supplement to Authentication in an Internet Banking Environment.” This most recent supplement speaks to the importance for Financial Institutions  (FI's) to establish a more layered security model  in order to address the dramatic increase in recent malware-based fraud attack vectors. This supplement highlights an expectation that by January 2012 FI’s will need to augment whatever stronger authentication they may already have in place by “layering” a number of additional defense mechanisms within their Online Banking applications. This most recent FFIEC supplement highlights a number of approaches that FI’s should consider when building out their layered security model, while prominently speaking to the benefits of comprehensive transaction monitoring as a means of detecting and responding to suspicious/anomalous activities throughout the entire online banking session, from login to logoff.

Digital Resolve’s Fraud Analyst application suite offers FI’s a variety of highly effective identity verification, authentication and transaction monitoring solutions. Our Analysis Engine transaction monitoring solution has been in production for several years and offers best practice models designed to protect both retail and commercial online banking clients. Utilizing a unique blend of Behavior Profiling, Predictive Analytics and Pattern Recognition methodologies, the Analysis Engine delivers real-time fraud detection, from login to logoff, without the need for direct integration to your Online Banking platform.

Digital Resolve also recognized the spike in commercial account takeovers over the past two years, and developed a Cash Management best practice model that addresses current attack vectors and delivers a wide variety of proven, real-time alerting functionality designed to protect the integrity of ACH and wire transfer payments.

We welcome your review of our Analysis Engine Product Brief as a means of learning more about our transaction monitoring capabilities. We would also welcome the opportunity to discuss how the Analysis Engine can help you build out a more effective layered security model in a manner that requires minimal FI resources and at a great value.

Please feel free to call Bob Pavich, Vice President , Fraud Prevention Solutions at 630-328-7460 or send an email