New York City, NY— [In December 2005 RSA Security acquired Cyota, a New York-based anti-fraud company.]
Metavante Corporation, the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI), today announced the availability of a comprehensive anti-phishing and anti-pharming solution for its clients. This is in response to the broader battle being experienced by the financial services industry against rising phishing attacks, which according to the Anti-Phishing Working Group are growing at the rate of over 40 percent per month.
Phishing is when fraudsters create fictitious emails and websites to collect personal, confidential information in order to commit fraud-related crimes and identity theft. Pharming is the act of creating a fake website, such as a copy of a bank's website, in order to steal users’ passwords, personal identification numbers (PINs) or account numbers.
Metavante clients can sign up for Internet Fraud Solutions, a complete email fraud and phishing solution that enables financial institutions to proactively prepare, respond and control potential fraudulent activity. It is offered through a strategic partnership with RSA Cyota Consumer Solutions, a division of RSA Security Inc. and a leading provider of online security and anti-fraud solutions for domestic and international financial institutions. Internet Fraud Solutions can be custom-tailored to fit clients’ specific needs and institutions also benefit from automatic membership to a powerful cross-bank collaborative online fraud network. Additionally, Internet Fraud Solutions is available in several configurations, which includes shutting down fraudulent sites and collecting forensic information to help prevent future attacks, with options for detecting and identifying online attacks in real-time. These capabilities are enhanced by blocking capabilities powered by a global network of partnerships with leading ISPs and anti-spam providers.
"Online fraud continues to challenge financial institutions of all sizes. Our clients look to us to provide not only expert advice on how to react, but also leadership on finding an efficient and cost-effective solution,” said Brian Hurdis, senior executive vice president and chief information and privacy officer, Metavante Corporation. “Metavante is proactively responding to the market with comprehensive protection against this rising threat to the banking industry. We anticipate Internet Fraud Solutions will be instrumental in helping to assure confidence in our clients’ customers in their use of online banking for its ease and efficiency in managing their banking needs."
Metavante clients can benefit from additional key features that are designed to:
- Decrease average lifespan of attacks from 130 hours to approximately five hours
- Web-based dashboard for ongoing status updates
- Real-time alerts to identify new threats
- Countermeasures to dilute the results of phishing attacks
- Minimize required bank resources for dealing with attacks
- International and multi-lingual protection network
- 24x7 support, monitoring and shutdown servicing
Metavante Banking Solutions offer the most comprehensive set of integrated products and services for financial services providers that are centered on customer and account management, specializing in deposit, loan and trust accounts. Two core processing products offer clients flexibility in choosing either a licensed or an outsourced solution: Bankway, which is run either in-house or in a hosted environment; or the Integrated Banking Solution, an outsourced platform. The Integrated Banking Solution includes core account processing, fully integrated delivery channels, business and marketing analytics, integrated payments, image, risk and compliance solutions, along with business and technology consulting. Bankway’s core banking software uses a single customer-centric database to produce a broad range of customer and account information. Its flexible, open-system design allows for seamless connections to third-party delivery channels. Metavante Banking Solutions serve over 900 financial services providers, and is a leading deposit system for financial institutions ranging from community banks to the top 100 U.S. banks.
About Metavante
Metavante Corporation is redefining banking and payments to financial services firms and businesses worldwide. Metavante products and services drive account processing for deposit, loan and trust systems, image-based and conventional check processing, electronic funds transfer, consumer health care payments, and electronic presentment and payment. Headquartered in Milwaukee, Metavante (www.metavante.com) is wholly owned by Marshall & Ilsley Corporation (NYSE: MI).
The following marks are intellectual property of Metavante Corporation:
Metavante, Internet Fraud Solutions and Bankway.
About RSA Cyota Consumer Solutions
RSA Cyota Consumer Solutions, a division of RSA Security Inc., offers proven solutions for online banking and e-commerce that range from adaptive authentication – with risk-based technology, one-time-passwords and transaction-signing – to anti-phishing services and real-time transaction monitoring that controls fraud and manages risk. The company’s eFraudNetwork™ community is the world’s most effective cross-bank collaborative online fraud network. Today, many of the world’s top 50 banks, including nine of the top 12 banks in North America and the UK, use RSA Cyota solutions to protect approximately 430 million consumers.
About RSA Security Inc.
RSA Security Inc. is the expert in protecting online identities and digital assets. The inventor of core security technologies for the Internet, the Company leads the way in strong authentication and encryption, bringing trust to millions of user identities and the transactions that they perform. RSA Security’s portfolio of award-winning identity & access management solutions helps businesses to establish who’s who online – and what they can do.
With a strong reputation built on a 20-year history of ingenuity, leadership and proven technologies, we serve approximately 20,000 customers around the globe and interoperate with more than 1,000 technology and integration partners. For more information, please visit www.rsasecurity.com
