mBanking & eBanking Risk Management

Mobile (mBanking) and online (eBanking) services offer both great opportunity and, unfortunately, sizable risk for banks. Hackers are taking advantage of the growing attack surface, the speed of new application development is creating gaps in security and digital security regulations are painful for banks that deploy inadequate fraud solutions. Supporting these channels requires a dynamic, comprehensive and intelligent platform that accurately detects and prevents fraud. A sophisticated fraud management solution that provides insights into real-time user behaviors and transactions across all key channels should be a critical component of any bank’s fraud mitigation strategy. At the same time, this solution should be completely invisible to end users maintaining a truly “frictionless” experience.

With IDENTIKEY Risk Manager for eBanking and IDENTIKEY Risk Manager for mBanking, VASCO offers two bespoke packages enabling banks to dramatically increase existing mobile and/or online banking fraud mitigation performance with the least amount of integration cost, time and disruption.

Identikey Risk Manager Animation

IDENTIKEY Risk Manager delivers strong and dynamic protection against fraudulent activities through sophisticated, real-time risk analysis - Identifying risk at critical steps, predicting risk levels, and taking immediate action when fraud patterns are identified.

The multi-channel risk analysis capabilities of IDENTIKEY Risk Manager accurately detect fraud across any application or channel, enabling quick response to evolving fraud patterns. IDENTIKEY Risk Manager can also efficiently analyze channels like ATM transactions inside and outside the network and credit/debit card operations.

Banks can leverage the enhanced risk detection capabilities of IDENTIKEY Risk Manager even further through integration with our DIGIPASS for Apps product. This powerful combination ensures that bank applications will be protected from reverse engineering, malicious code injection and benefit from enhanced data protection via end-to-end secure channel encryption and an in-app integrity check.

Business Benefits:

  • Seamlessly boosts current fraud platform performance

  • Leading risk intelligence and customization provides a more holistic solution

  • Integrated server-side protection and multi-channel analysis address all common applications

  • Improves the ability to meet strict compliance requirements

  • AI technology automates fraud processes, reduces manual intervention and related costs

Online Banking Solution - Features & Benefits

  • Account Takeover Prevention

IDENTIKEY Risk Manager prevents account takeover with real-time advanced analysis of hundreds of disparate data points. IDENTIKEY Risk Manager provides broad and integrated authentication options that enable “step up” security through additional user authentication methods based on the level of risk.

  • Fraud Prevention

IDENTIKEY Risk Manager uses advanced decision analytics and expert driven machine learning to efficiently analyze high volume transactions and accurately detect fraud.
When potential fraud is detected, real-time alerts are sent to fraud managers who review and ultimately accept or challenge the transaction. Step up or out of band authentication can be initiated as needed. Additionally, devices, users and payment recipients can easily be “whitelisted” or “blacklisted” based on results of the fraud analysis.

  • Payment Recipient Management

IDENTIKEY Risk Manager monitors the creation and updating process of payment recipients at all times and enables you to respond with different predefined actions to best fit your bank’s policy./p>

  • User Profile Management

Changing any of the user attributes such as address, email, phone number is a critical operation as fraudsters can take advantage of this to redirect funds, goods, or authentication information and impersonate a legitimate user.
IDENTIKEY Risk Manager protects against such scenarios through analysis of all user profile changes.

  • Session Monitoring

Interactions between the end-user, his/her device and the application are regularly analyzed, resulting in highly accurate modeling of device and customer behavior.
Fraud monitoring and prevention in this case is a continuous function that ensures a reliable channel to operate with legitimate users.

  • Detection of Phishing & Trojan Attacks

IDENTIKEY Risk Manager leverages server-side analytics, behavioral analysis and review of external patterns to detect and prevent phishing attacks.

Mobile Banking Solutions - Features & Benefits

  • Device Registration

IDENTIKEY Risk Manager for mobile banking incorporates a predefined set of rules and scenarios that accurately establish the level of trust for each device. Performance against preset rules can increase or decrease the level of trust resulting in automatic blacklisting of a device in the event that fraud is detected. Data points used to determine trust can include the presence of a hooking framework, jailbreak or rooted device, repackaged application (sign of reverse engineering attack), untrusted touch/keyboards subsystems and geolocation.

IDENTIKEY Risk Manager for mobile banking combines customer and device contextual patterns with server side analytics and sophisticated AI to achieve continuous and accurate fraud detection.


Case Study

Risk Analytics Drives Down Fraud

The ability to detect and prevent fraud is essential for financial institutions to achieve compliance, drive down exposure, and maintain brand integrity by protecting customer data while also creating a frictionless user experience.

Solution Brief

PSD2 Compliance Webinar - Q&A

Q&A after the "Revised Payment Services Directive (PSD2) – How to prepare your business" webinar (March 2017).

Product Brief

IDENTIKEY Risk Manager

IDENTIKEY Risk Manager is a comprehensive fraud solution designed to help you improve the manner and speed at which your organization detects fraud across multiple channels, enabling you to take a proactive approach to fraud prevention, while at the same time making the experience as painless as possible for your users.

White Paper

Behavioral Biometrics: Improve Security and the Customer Experience

By downloading this white paper, you’ll discover the challenges of authenticating a mobile customer, how behavioral biometrics, aka behaviometrics, work, how to establish a risk-based approach to online security and how behavioral biometrics helps financial institutions manage fraud risk, improve the user experience, increase customer loyalty, satisfy regulatory requirements, and deliver a frictionless, cross-channel user experience.

Industry Briefing

Industry Survey: 2017 Faces of Fraud

Download the 2017 Faces of Fraud Survey, a 27-page report that documents how leaders in the banking and security industries are preparing for fraud. Learn about the top forms of fraud afflicting financial organizations in 2017, the biggest gaps in organizations' efforts to detect and prevent fraud, and what organizations are doing to counter the surge in mobile exploits.

Product Brief

IDENTIKEY Risk Manager for m-Banking

The VASCO IDENTIKEY Risk Manager mBanking solution, provides an efficient anti-fraud system to your existing mobile banking offering that can be achieved with minimal integration cost and time.

Product Brief

IDENTIKEY Risk Manager for e-Banking

The VASCO IDENTIKEY Risk Manager for e-Banking solution, provides customers with a real-time, turn-key fraud management capability that enhances existing online banking activities.

Improve the Customer Experience or Defeat Sophisticated Fraud?
You Can Do Both!

Banks, and other businesses, need to accelerate digital channel growth while improving both user experience and security. In the past businesses had to focus on one or the other. Not anymore.

IDENTIKEY Risk Manager achieves the twin goal of strong security and optimal user experience. It analyzes vast mobile, application and transaction data, in real-time, to effectively detect fraud and dynamically step up security to stop fraudulent transactions, improving the customer experience and defeating sophisticated fraud.

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