SOURCE: Silver Tail Systems

Silver Tail Systems

July 05, 2011 08:30 ET

Silver Tail Systems Helps Financial Institutions Boost Security and Effectively Tackle New FFIEC Guidelines

Silver Tail Systems' Real-Time Session-Based Activity Monitoring, Anomaly Detection and Actionable Alerts Provide Layered Defense for Financial Institutions

PALO ALTO, CA--(Marketwire - Jul 5, 2011) - Silver Tail Systems, Inc., the leading provider of predictive analytics for detection and prevention of fraud and abuse to some of the leading websites in the world, today announced that its web session-based activity monitoring and anomaly detection capabilities enable banks and other financial institutions to effectively comply with newly released guidance from the Federal Financial Institutions Examination Council (FFIEC).

This guidance provides a risk management framework to financial institutions that offer Internet-based products and services to their customers, helping them combat the ever-increasing threats present within online environments.

While many financial institutions already have transaction monitoring in place, session-based behavior analytics provides another layer of protection. According to the FFIEC guidance, "Layered security can substantially strengthen the overall security of Internet-based services and be effective in protecting sensitive customer information, preventing identity theft, and reducing account takeovers and the resulting financial losses."

For institutions that do not perform transaction monitoring, web session-based behavior analytics can be an efficient way to get one layer in place very quickly while the rest of the security systems are being implemented.

"I am thrilled to see the acknowledgement that a layered approach is required to protect against today's sophisticated attacks," noted Laura Mather, PhD, Co-founder and Vice President of Marketing at Silver Tail Systems. "Real-time insight into anomalous behavior is critical to rapidly detecting attacks and mitigating their impact, and this guidance from the FFIEC sheds light on the market need for this technology, particularly in light of recent attacks. Silver Tail Systems is currently protecting over 250 million online users worldwide -- many of them from financial institutions -- and with our successful track record, that number is rapidly growing."

Silver Tail Systems provides the following solutions that help customers address guidance outlined by the FFIEC supplement:

  • Silver Tail Systems Forensics: Identifies emerging threats in website sessions using behavior analytics. The types of threats that are identified include, but are not limited to Man in the Browser, Man in the Middle, customer data scraping, architecture probing, and other pre-cursors to fraud attacks. In addition, Forensics allows business owners to explore website activity by displaying usage per page, per user, or per IP level. When suspicious activity is identified, it provides visibility into the bad actors and their specific behaviors while alerting the necessary business owners of any malfeasant behavior.
  • Silver Tail Systems Mitigation: Gives business owners the power to adjust a website's business flows in real-time to prevent bad actors without impacting legitimate users. Based on insights from Silver Tail Forensics, rules are developed and routinely adjusted to respond to threats, tested in a zero-impact environment and deployed automatically to the website -- without requiring IT or development resources.

About Silver Tail Systems, Inc.
Silver Tail Systems is the leading provider of predictive analytics for detection and prevention of fraud and abuse to some of the leading websites in the world. The company offers the industry's most comprehensive suite of fraud detection and mitigation solutions. Serving some of the world's largest financial institutions and e-commerce companies, Silver Tail Systems' award-winning solutions are made possible by the unmatched expertise of its management and technology teams, who bring deep experience, know-how and personal commitment to protect their customers' businesses against online fraud. For more information, visit Silver Tail Systems at www.silvertailsystems.com.

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