SOURCE: Versafe, Inc.

Versafe, Inc.

September 11, 2013 12:55 ET

Versafe Launches the TotALL™ Online Fraud Protection Suite in North America

Versafe Delivers the Only Solution Capable of Proactively Protecting All End-Users, From All Malware and Online Threat Types, Across All Devices, Without Any User Involvement

PHILADELPHIA, PA--(Marketwired - Sep 11, 2013) -  Versafe, Inc. today announced general availability of the TotALL Online Fraud Protection Suite in North America, the only solution able to both detect and protect against fraud, malware and other online threats without any user involvement. Having secured $5 million in Series A funding from Susquehanna Growth Equity, Versafe, which already protects 50 million users worldwide, has built out its U.S. sales and marketing organization and expects to formalize several major U.S. customer relationships this year. Versafe is also announcing a strategic partnership with F5 Networks, which enables joint customers to deploy the TotALL online protection solution in as few as one to two days. By overcoming the losing battle of relying on end-users to download and install security software Versafe is fundamentally advancing the online fraud protection model.

According to Avivah Litan and Peter Firstbrook in Gartner, Inc.'s 2013 Magic Quadrant for Web Fraud Detection, "Without continuous outbound marketing and login advertising, installation rates can stall at 10% or less."

"Versafe has the right idea. Its server side approach allows for greater scale and efficiency, and the ability to actively protect users against attacks -- while removing them from the equation altogether -- will be critical as the model for this class of security solutions evolves," said Shirley Inscoe, Senior Analyst, Aite Group. "The strong multiples received for recently-acquired companies in this space confirm the demand for fraud protection solutions is high, while our research proves that consumers can be somewhat clueless concerning the importance of their online security."

Introducing the TotALL® Online Fraud Protection Suite
The TotALL Online Fraud Protection Suite is comprised of two primary products: WebSafe and MobileSafe™.

WebSafe enables organizations to protect their entire user base from all online threat types, across all devices, in real-time. Key functionality includes:

  • Malware Detection: Comprehensive server-side detection of targeted and generic malware, zero-day attacks, Man-in-the-Browser, Man-in-the-Middle, and many more.
  • Malware Protection:  Protects all key user data -- including credentials, account information, and transaction data -- thereby mitigating account takeover and fraudulent transactions, enabled by advanced application-layer, one-time key-based encryption.
  • Transaction Protection: Identifies and protects against fraudulent automated payments and money transfers, by assessing a variety of device-specific and real-time behavioral elements, including Versafe's proprietary device ID, mouse and click patterns, sequencing of and timing between actions, and dozens of other variables. 
  • Advance Phishing Detection: Detects and mitigate phishing attacks prior to being launched, by identifying when attackers copy genuine sites and then load the copy to a spoofed domain or domains. All prior to phishing emails being sent to end-users. 

MobileSafe protects against advanced threats targeting the mobile user. Key features include:

  • Jailbroken Device Detection: By first identifying whether a device has been rooted, the user or session-based risk score can be adjusted accordingly.  
  • Malware Detection:  Identifies the presence of mobile malware, SMS grabbers, and other mobile threats in real-time. 
  • Malware Protection: Protects all key user data -- including credentials, account information, and transaction data -- via advanced application-layer, one-time key-based encryption.
  • Transaction Protection: Identifies and protects against fraudulent automated transactions being made from the mobile device, by assessing several device and behavioral variables, including Versafe's proprietary device ID, navigation timing and patterns through the native mobile application, and more. 

Together, WebSafe and MobileSafe comprise the TotALL Online Fraud Protection Suite, the first and only solution enabling organizations to protect the integrity of each online user relationship, while being completely transparent to the user. More information is available on the Versafe website.

Versafe also provides a variety of value-added services via its 24x7x365 Security Operations Center and Malware Analysis Team, including cyberthreat intelligence -- responsible for having detected Eurograbber, a variety of zero-day and cross-device attacks, as well as the recent critical vulnerability of the Joomla content management system platform used to wage financial crime, amongst others -- in addition to social and business network fraud detection, fraudulent mobile app monitoring, and more. 

As part of its North American launch, Versafe is also highlighting a key partnership with F5, in which WebSafe can be implemented via F5's innovative iRules functionality. This joint solution eliminates the need for any application development, enabling joint customers to deploy the Versafe solution in as little as a day. "Our partnership with Versafe enhances the threat protection capabilities offered by BIG-IP ASM and our other security solutions in ways that are strategic to our joint customers," said Mark Vondemkamp, VP of Security Product Management and Marketing at F5. "Versafe has strong market momentum and we look forward to a productive partnership."

"We built or solution on two guiding principles -- that all endpoints are already infected, and that you cannot protect devices you can't control," said Eyal Gruner, CEO and Co-founder of Versafe. "By focusing on protecting the web and native mobile applications -- as well as the data flowing between the endpoint and the application, as opposed to requiring users to download software -- we developed a frictionless solution that is already protecting 50 million users worldwide."

Pricing and Availability
WebSafe and MobileSafe are both offered as SDKs or can be deployed via a technology partner (e.g., F5), and can be purchased directly from Versafe or through select channel partners. Pricing is based on the number of users and applications protected. For more information, please contact sales@versafe-login.com.

About Versafe
Versafe enables organizations to protect their entire base from all malware and online threat types, on all devices, all transparently to the end-user. Leveraging advanced application-layer encryption, real-time malware detection, and sophisticated device and behavioral analysis capabilities, Versafe dramatically reduces account takeover, fraudulent account creation, and fraudulent transactions. Named a Top Influencer in 2013 by BankInfoSecurity News, Versafe is backed by Susquehanna Growth Equity, and already protects over 50 million end-users worldwide. Key partners include F5, CA, and Check Point. For more information, please visit www.versafe-login.com.

Contact Information

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