Corillian’s Intelligent Authentication will be integrated with Cydelity’s eSentry online fraud tool, which is already deployed at the bank. This will provide end-to-end monitoring and protection of the entire online banking session, along with risk-based authentication by transaction and individual user.
Intelligent Authentication employs a behavioral approach to authentication by building a history of ‘access signatures’ for individual users. This is accomplished by collecting and validating information about each user’s computer and method of website access without collecting personally identifiable information or requiring participation of the end user in the data collection process.
eSentry’s risk based progressive scoring system tracks all authorized and unauthorized activity from the point of a user’s arrival at a banking website to point of departure. All activity monitored by eSentry is aggregated into end-to-end incidents tying all suspicious activity such as identification information, tampering attempts, and service breaches, along with fraudulent transactions into a holistic, actionable view.
In order to fully protect consumers and meet evolving regulatory requirements, financial institutions need to make sure they have both ‘locks on the doors’ to ensure authorized access, and ‘motion sensors’ that can flag fraudulent or suspicious activity once a user is granted access to online services, said Bob Ciccone, CEO of Cydelity. By working in conjunction with Corillian, we can deliver to M&T Bank a long-term protection strategy in time to meet upcoming FFIEC deadlines.
