Guardian Analytics, a provider of behavioral analytics-based fraud prevention solutions, introduced FraudDESK, which it says is the industry's first fraud monitoring managed service.

FraudDESK claims to provide short- or long-term fraud analytics support and fraud expertise to any financial institution regardless of size, IT staff, or fraud prevention resource availability. With FraudDESK, institutions can immediately deploy FraudMAP, Guardian Analytics’ SaaS-based fraud prevention software, to protect online account holders from cyber threats with no training and no staffing changes. FraudMAP provides the anomaly detection and transaction monitoring capabilities needed to meet the minimum expectations for online banking security established in the FFIEC Authentication and Internet Banking guidelines. Combined with FraudDESK, it can be launched without staffing a new project, changing staff assignments or undergoing training.

“Banks and credit unions have their hands full with new regulations, new product offerings and now the updated FFIEC expectations for layered security,” said Terry Austin, CEO of Guardian Analytics. “FraudDESK offers financial institutions an easy way to check off minimum FFIEC expectations without pulling resources from other vital projects. Our flexible program allows customers at any time to fold FraudMAP’s easy to use monitoring and investigation capabilities back into their own operations.”

At the heart of FraudDESK is FraudMAP for Business Banking and FraudMAP for Retail Banking, Guardian Analytics' behavioral analytics software that detects suspicious behavior at the individual account holder level that is indicative of account takeover, account reconnaissance, and fraudulent wire, ACH, bill pay and other transactions.

FraudMAP is not threat specific, does not require action on the part of account holders, and automatically protects against a wide array of attacks including those that stem from phishing, vishing, and man-in-the-browser schemes.

http://www.guardiananalytics.com/newsandevents/press_07132011.php