Jack Henry & Associates, Inc. announced the availability of the Gladiator NetTeller Enterprise Security Monitoring online fraud solution, which is available through the company's ProfitStars division.

NetTeller ESM, designed for banks automated by Jack Henry Banking’s SilverLake System and CIF 20/20 core systems and using its NetTeller Online Banking platform, provides an additional layer of security protection for banks to proactively defend their retail and commercial customers from online fraud.

This new fraud solution tracks various cash management and online banking activities to help combat ACH/wire fraud and comply with recently enhanced regulatory expectations for internet banking security, published in the recent FFIEC Authentication Guidance Supplement.

Matt Riley, CIO of Gladiator Technology, says, “In today’s internet-driven society, ACH and wire fraud have become major threats to financial institutions and can result in serious financial and reputational consequences. In response, financial institutions must ensure proactive measures are in place to detect online fraud committed against their clients by insidious fraudsters.”

In line with the FFIEC’s June issuance, the Gladiator NetTeller ESM solution helps banks mitigate the risk of ACH/wire fraud while assisting with conformity with the recent regulatory directive that recommends implementation of a “layered security” approach; more specifically, one that detects and responds to suspicious online banking activity. NetTeller ESM’s fraud analytics enable financial institutions to more proactively manage threats 24x7x365 by defining pre-emptive measures to track key events and flag items requiring immediate attention.

The solution evaluates online activities using behavioral analytics to determine if exhibited online account behavior is expected and legitimate when compared to historic data and patterns, and also uses ACH batch analysis to monitor suspicious transaction activity that could indicate fraud.

NetTeller ESM offers online fraud protection for both retail and commercial accounts. Key features include fraud monitoring by Gladiator’s expert security analysts, monitoring of ACH and wire activity, anomaly detection related to successful authentication to the internet banking system, real-time alert notifications of security events, and easy-to-read-and-understand reports with a regulatory focus.

 

 

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