Bank selects FraudMAP(R) to protect business accounts from Internet banking fraud

LOS ALTOS, Calif., Sept. 1 /PRNewswire/ -- Guardian Analytics, a provider of online fraud prevention software for the financial services industry, announced today that Cathay Bank of Los Angeles, Calif., has selected FraudMAP(R) to help protect its customer accounts from Internet banking fraud.

With more than $10 billion in assets, Cathay Bank was founded in 1962 by Chinese-Americans and currently has a total of 50 branches, of which 49 branches are located across 7 states and one is located in Hong Kong.

It is important for a financial institution such as Cathay Bank to have an online banking platform that provides its account holders with a feature-rich online experience and peace of mind that their funds are safe when banking online. FraudMAP's behavior-based analytics can help enhance the anti-fraud efforts Cathay Bank has implemented for its online banking customers.

"With larger balances than individuals, business accounts represent an increasingly attractive target to criminals," said Terry Austin, president and CEO, Guardian Analytics. "It is no surprise that forward-thinking banks serving business customers are increasingly seeking more robust security for their online platforms. We are proud to assist Cathay Bank protect its customers' assets."

About FraudMAP(R) FraudMAP delivers better fraud prevention through more accurate detection, actionable analysis and increased visibility into suspicious online activity. Guardian Analytics' proprietary Dynamic Account Modeling(TM) technology models all individual online account holder activity session by session, from login to logout, to detect suspicious actions and flag behaviors inconsistent with predicted account holder behavior. FraudMAP makes anti-fraud efforts more proactive and optimizes financial institutions' limited resources by identifying and containing fraud incidents before losses occur. FraudMAP complements other existing technologies, such as enhanced authentication.

About Guardian Analytics

Headquartered in Los Altos, Calif., Guardian Analytics is focused on the prevention of online account fraud. The company's real-time risk management approach to fraud detection, forensics and risk monitoring is built on strong analytics and predictive models of individual behavior. Leading financial services institutions rely on Guardian Analytics to protect individual account assets and the integrity of their online channels. Founded in 2005, Guardian Analytics is privately held with venture funding from Foundation Capital. For more information, please visit www.guardiananalytics.com.

SOURCE Guardian Analytics

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