Easy Solutions, the Total Fraud Protection® company, today released an update to its DetectTA® fraud prevention solution that provides financial institutions more customized and comprehensive tools to better detect and reduce fraud across all channels. The new updates include customized heuristic modeling and historical statistical testing, along with comprehensive transaction visibility and reporting capabilities.
“While banks and financial institutions see a lot of commonalities when it comes to fraud detection, many also see a multitude of differences that are unique to their own brand, geography or customer base.” said Daniel Ingevaldson, CTO of Easy Solutions. “With these enhancements, we are providing our customers a powerful, flexible and comprehensive way to be even faster at detecting and protecting against fraud, especially when dealing with never-before-seen behavior.”
DetectTA is a fraud prevention solution, which works at the transaction level to authorize or deny every transaction in real time. DetectTA automates the evaluation of any transaction based on its deviation from learned user habits and user or administrator-defined rules. Working with Easy Solutions DetectID, it becomes a powerful combined fraud detection and authorization system for Risk Based Authentication or authentication combined with fraud detection. DetectTA provides fraud prevention for online user and traditional channels; stopping not only online fraud, but also any other forms of financial criminal activity.
The new features in DetectTA include:
– Customized Heuristic Modeling – In addition to the standard Suspicious Activity Analyzers (SAAs) that search for transaction patterns related to illegal activity, banks and financial institutions now have the ability to create their own customized SAAs with the help of an interface that allows for the selection of parameters for ferreting out illegal behavior. This allows banks to adjust their alert system to better reflect local fraud problems.
– Historical Statistical Testing – When a new institutional rule is created, banks can apply the rule on previously processed transactional data, seeing which prior transactions would have been flagged under the new rule. This gives institutions an immediate look at how a possible new rule would work, and analyze whether potential new rules would improve fraud detection rates.
– Transaction Reports – Institutions can now create new rules and SAAs that enhance the process for fine-tuning fraud detection mechanisms. DetectTA now allow users to examine any transaction in a report, even those that may not generate alerts.
To learn more about DetectTA visit http://www.easysol.net/newweb/Products/Detect-TA.
ABOUT EASY SOLUTIONS
Easy Solutions delivers Total Fraud Protection® to over 100 clients, with over 32 million end users. The company’s products protect against phishing, pharming, malware, Man-in-the-Middle and Man-in-the-Browser attacks, and deliver multifactor authentication and transaction anomaly detection. For more information, visit http://www.easysol.net, or follow us on Twitter @goeasysol.
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