VASCO's IRM Identifies and Mitigates Hacking Attacks

By CIOReview | Wednesday, July 22, 2015

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OAKBROOK TERRACE, IL: VASCO Data Security International, provider of electronic signatures and identity management solutions introduces a new tool IDENTIKEY Risk Manager (IRM) to identify and mitigate hacking attacks.

IDENTIKEY Risk Manager binds real-time risk analysis, multi-channel transaction monitoring and risk-based authentication as a solution for fraud prevention and compliance. IRM identifies and calculates risks in real-time. It determines and initiates level based protective action when suspicious patterns are identified.

IRM detects fraudulent activities across any application, allowing organizations to quickly respond to evolving fraud patterns, comply with regulatory mandates, and improve operational efficiency with the multi-channel transaction monitoring capabilities. IRM creates a secure environment that does not impact user experience by identifying unusual patterns and behaviors and increasing security with risk-based authentication where required.

“Spending on online and mobile fraud mitigation technology will continue to rise; banks have a wealth of data at their disposal. Those that are harnessing that data to convert it into actionable intelligence are reaping the benefits in the form of better fraud prevention and less friction for customers,” says Julie Conroy, Research Director, Aite Group's Retail Banking practice. VASCO acquired the core technology of IDENTIKEY Risk Manager with its 2014 acquisition of Risk IDS, a provider of risk-based authentication solutions for banks.

IRM solution improves the methods and speed with which organizations can detect frauds, enabling organizations to perform more security functions in the background thus reducing the security burden on customers. “At the same time that the sophistication and volume of hacking attacks continues to grow, users are demanding more simplicity, with the addition of IDENTIKEY Risk Manager, we’re able to offer a comprehensive approach to multi-channel fraud prevention including application security, multifactor and risk-based authentication and transaction monitoring,” says Jan Valcke, President and COO,VASCO Data Security.