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Silver Tail Systems receives strategic investment from Citi Ventures

Friday 23 September 2011 11:39 CET | News

Silver Tail Systems, a provider of predictive analytics for fraud detection and prevention, has secured an additional round of funding from Citi Ventures.

Silver Tail Systems provides software-as-a-service services to protect e-commerce, financial, government and Web 2.0 websites, as well as any other online properties that house critical information. The company currently monitors over 750 million users and over 1.8 billion web sessions per year worldwide.

Authentication systems can provide only limited protection against attacks on web sites; where they fail – for example when the criminal is using the victims computer – it is only through the use of web session behavior analytics, which is how anomalous behaviour is exposed, that you can detect attacks like Man in the Browser. This is what Silver Tail’s products do. In addition, we can detect some of the pre-cursors to fraud. Criminals often visit their target website beforehand to gather information required for their attack. These activities can be perpetrated through a web site and we are able to detect them as they are happening – before the fraud takes place, Timothy Eades , CEO of Silver Tail Systems, tells The Paypers in an exclusive interview.

Citi Ventures is a unit of the global financial services company Citigroup. This investment is part of a previously announced Series B funding round in June led by Andreessen Horowitz.


 


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Keywords: Silver Tail Systems, Citi Ventures, predictive analytics, fraud detection, e-commerce, authentication system
Categories: Payments & Commerce
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