Pacific Continental Bank Deploys Guardian Analytics to Proactively Protect Online Banking Channel from Fraud
FraudMAP Version 4 selected to fight Man-in-the-Browser and other sophisticated attacks through advanced behavioral analytics
LOS ALTOS, Calif., Oct. 5 /PRNewswire/ -- Guardian Analytics, the innovator in predictive analytics-based fraud prevention software, today announced that Pacific Continental Bank has selected Guardian Analytics' FraudMAP® Version 4 to proactively protect its online banking channel from fraud. The bank has selected FraudMAP for its ability to catch sophisticated fraud schemes targeted at small and medium-sized businesses that cannot be stopped with rules-based approaches or authentication. Pacific Continental Bank has deployed FraudMAP Version 4, which was announced publicly today.
Pacific Continental Bank delivers highly personalized services through fourteen banking offices in Oregon and Washington. With $1.2 billion in assets, the community bank targets the needs of community-based businesses, healthcare professionals, professional service providers and nonprofit organizations.
"Fraud attacks targeted at small and medium-sized businesses have become even more prevalent over the past year, so we made the strategic decision to take additional precautions to ensure that our customers are protected," said Mellani Ocampo, eCommerce Manager, Pacific Continental Bank. "Fraudsters are incredibly unpredictable, and Guardian Analytics' advanced behavioral modeling was exactly what we were looking for to handle the unexpected nature of attacks like Man-in-the-Browser and money mule schemes. We were also impressed with Guardian's new SaaS delivery model which makes the solution quick and easy to deploy so we can begin taking advantage of it nearly immediately."
FraudMAP Version 4 enables financial institutions of all sizes to benefit from sophisticated online fraud protection historically only available to institutions with more resources and staff. The behavioral analytics anti-fraud solution delivers proactive fraud prevention through accurate detection, actionable analysis and visibility into suspicious online activity. Guardian Analytics' proprietary Dynamic Account Modeling™ technology models all individual online account holder activity session by session to detect suspicious actions and flag behaviors inconsistent with predicted account holder behavior. FraudMAP's Software-as-a-Service delivery model makes it quick to deploy and decreases the time, cost and resources needed to maintain the analytics tool.
"Fraudsters are incredibly adept at mimicking the behavior of online banking activities and are proving time and time again that they can beat rules-based anti-fraud solutions," said Terry Austin, CEO of Guardian Analytics. "We are glad to see that more banks like Pacific Continental are prioritizing techniques like our proactive behavioral modeling solution to fight cyber-fraud, and are looking forward to working with them to better serve their customers."
About Guardian Analytics
Headquartered in Los Altos, Calif., Guardian Analytics is focused on the prevention of online account fraud. The company's risk management approach to fraud detection, forensics and risk monitoring is built on strong analytics and predictive models of individual behavior. Over 30 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 and Sutter Hill Ventures. For more information, please visit www.guardiananalytics.com.
SOURCE Guardian Analytics
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