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News

Multi-Layer Fraud Prevention Reduces Online Banking Risk

Ironkey : 08 September, 2011  (New Product)
Trusted Access Platform involving secure flash drive based on-board browser brings new level of security to online banking customers
Multi-Layer Fraud Prevention Reduces Online Banking Risk
IronKey has introduced the next generation of online banking security: an integrated platform of multiple security controls. This ground breaking approach dramatically reduces the risk of online banking fraud and simplifies compliance with FFIEC guidance. With this new innovation, IronKey takes a commanding lead in the industry. The IronKey Trusted Access Platform changes the focus from single-point security controls to an integrated, multi-layer approach that strengthens online security for banks and their customers.

IronKey also announced the industry's first downloadable, secure browser application as a new Trusted Access form factor. The downloadable software is built on the same award-winning security as the existing portable device version. This includes key logging protection, read-only operation and access to the encrypted and secure IronKey Trusted Network. Trusted Access helps to avert criminal attacks on bank customers that use malicious software such as ZeuS, SpyEye, Sunspot, and OddJob, as well as new threats that continue to evolve.

IronKey also announced its plans to extend the Trusted Access Platform with additional security controls including out-of-band authentication, smartphone applications and analytics. With these additions, banks can further reduce the risk of fraud and simplify fraud prevention with new levels of integration. And unlike today, banks will no longer need to integrate multiple vendors' tools or add new delivery methods.

"What we found to be unique with the IronKey Trusted Access Platform was the ability to provide East Carolina Bank with the right mix of security offerings for our differing customer segments," said William Sampson, CIO for East Carolina Bank.

"A layered fraud prevention approach provides defense in depth, and it is the best policy for preventing and containing losses that result from today's and tomorrow's threats," said Avivah Litan, vice president and distinguished analyst with Gartner Research. "Banks can start by deploying lower levels of the layered stack to help stave off immediate threats."

With the Trusted Access Platform, banks can start with secure browsing to reduce the risk of online account takeovers where criminal attacks take place -- on the bank customers' computers -- and add additional layers of security as needed.

"IronKey continues to innovate and lead in fraud prevention for online banking by integrating multiple layers of security. With the Trusted Access Platform, banks can immediately secure their brands and customers from the damaging impact of account takeovers and litigation costing millions of dollars a year. And as banks address FFIEC compliance requirements for multiple layers of security, an institution's return on investment continues to grow," said Arthur Wong, CEO of IronKey. "For our banking service provider partners, the Trusted Access Platform delivers significant competitive differentiation and faster time-to-market compared to cobbling together disparate products from multiple vendors that ultimately leave points of risk unaddressed."
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