SOURCE: Silver Tail Systems

Silver Tail Systems

January 20, 2011 08:30 ET

Silver Tail Systems Website Fraud Prevention Product Portfolio: Continued Advancements in Predictive Analytics

Preview of New Security Solution That Provides Behavior Insight Into Websites' Customers' Online Activity

PALO ALTO, CA--(Marketwire - January 20, 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 a new feature to its Forensics product. Silver Tail Systems' products deliver complete visibility and control to protect e-commerce websites, online financial institutions, government and Web 2.0 websites. 

"Website attacks have evolved to the point where protection based primarily on authentication is clearly insufficient," said Jeremiah Grossman, Founder and CTO of WhiteHat Security, Inc. "Silver Tail Systems' predictive analytics approach, which focuses on behavior within website sessions, is an effective complement to authentication solutions for combating modern attacks and maintaining system integrity."

Silver Tail Systems will demonstrate the new feature of our Forensics product with user-specific monitoring capability at the upcoming RSA Conference in San Francisco. This intrinsic feature performs behavior analytics not only across a website's total population but on an individual user basis.

A recent survey conducted by Information Security Media found that new banks feel least protected in online attacks -- 48% of survey respondents experienced phishing/vishing, 37% experienced account takeover and 76% of banks learn of fraud incidents by way of their customers. 

"Financial institutions are looking to update their security deployments across the IT infrastructure," said Avivah Litan, Vice President and Distinguished Analyst at research firm Gartner. "Many banks, financial service institutions and their online banking systems are one-generation behind current practices employed by cyber criminals. To address these challenges, financial institutions would benefit by using predictive analytics to evaluate user behavior in real-time and immediately thwart fraudulent behavior that often occurs in the online banking environment."

Silver Tail Systems' Forensics product has been used extensively to protect banks and other online entities from attacks by organized crime and other online criminals. The addition of user-specific behavior analytics makes the population-based monitoring of the Forensics solution even stronger while still maintaining a small hardware footprint and time-to-value measured in hours. For more details about the Forensics solution, please visit our website:
http://www.silvertailsystems.com/products/silver_tail_forensics.php

"Silver Tail Systems has led the website fraud prevention market on a number of fronts with its forensics and mitigation services, and now predictive analytics approach that is unique to the industry," said Laura Mather, founder and vice president of product marketing, Silver Tail Systems. "Our vantage point in predictive analytics allows banks and financial institutions to pinpoint specific users and their behavior that is habitually a potential threat to the customers, stop them and take preventative measures to avoid costly errors."

For more information on Silver Tail Systems, visit our blog: http://silvertailsystems.wordpress.com/

About Silver Tail Systems
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 then 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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