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Flagstar Bancorp deploys VeriSign Identity Protection fraud detection service

Thursday 23 July 2009 11:10 CET | News

US savings bank Flagstar Bancorp has teamed up with internet infrastructure services provider VeriSign to deploy the latters VeriSign Identity Protection (VIP) Fraud Detection Service to provide enhanced protection for its online banking customers.

The VIP Fraud Detection Service assesses and registers online users’ behaviour, subsequently requiring additional authentication when it detects suspicious activities. The service processes around 1,000 transactions per second, and employs a rules engine and a self-learning behaviour engine to process each event and determine fraud risks based on pre-determined parameters such as location, device used, time, network address, transaction type and user information.

If a risk threshold is exceeded, the intervention engine can require a higher level of authentication. The service also includes fraud investigation and case management tools to help Flagstars internal security teams investigate and resolve potential fraud.


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Keywords: Flagstar Bancorp, VeriSign, VeriSign Identity Protection, VIP, fraud detection, self-learning behaviour engine, rules engine, transaction authentication
Categories: Banking & Fintech
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Countries: World
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Banking & Fintech