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  • user 3:35 pm on November 15, 2016 Permalink | Reply
    Tags: , CyberFraud, , , generation, , Prevention, , Unveiled    

    The Next Generation of Financial Cyber-Fraud Prevention is Unveiled  

    CyberRein, a cyber-security company has announced the launch of Assayer, a cyber-fraud software. Targeted at , Assayer uniquely stops criminals deceiving a bank’s existing defences.

    Assayer

    Assayer is set to transform cyber-fraud . Banks existing defences prevent impersonation allowing criminals time to learn how to deceive and plan an attack. Assayer takes away this time, meaning criminals no-longer have months, but milliseconds to plan their attacks. This is ground-breaking and is due to Assayer’s multi-patented Transaction Cloaking that constantly mutates and creates impossible puzzles that criminals must solve to be able to deceive defences.

    Assayer’s mutating deception shields are a step-change for banks because they never protect transactions the same way twice. Therefore, anything criminals do learn instantly becomes useless a split-second later, including how to successfully use stolen credentials and biometrics &; or even how to deceive Assayer itself.

    Sat Birdi

    Sat Birdi

    “Banks aren’t losing the cyber-fraud battle because their defences are weak, but because criminals have too long to learn how to defeat them, which is why banking has a $ 100B cyber-fraud problem each year, despite using best-in-class defences. Assayer’s mutating defences eliminate this fundamental vulnerability of time, so criminals can’t learn how to deceive a bank’s defences in the first place,” said Sat Birdi, CEO of CyberRein.

    “Assayer allows any bank to finally stop cyber-fraud, not because it prevents it through detection, but because its mutating deception shields never protect transactions the same way twice and cloak a bank and its customers in a way that criminals can’t solve. Assayer’s defence technology is very powerful, because it now allows banks to finally prevent the root cause of all cyber-fraud, the knowledge required to succeed &8211; and the implications are profound and far-reaching”. 

    As well as cloaking the transactions, Assayer does not affect the bank’s current defences and encompasses them into its deception shields, securing all channels and touchpoints against impersonation, the pre-cursor to all successful cyber-fraud. Assayer will protect anything that is placed within its deception shield and instantly means that a bank’s existing cyber-security investments are future-proofed. The bank’s current defences and customers are not aware that they are being protected – there is no interference, downloads and ultimately no successful cyber-fraud.

    ASSAYER

    ASSAYER

    Sat continued, “We live in a truly compromised world where criminals are always waiting for the next opportunity to defraud banks and their customers. At CyberRein, we can eliminate that threat and headache for eBanking executives, and make banking online safer for everyone. Consumers are increasingly asking their banks to do more to protect them, and through Assayer, we are giving the community the chance to do exactly that.

    The CyberRein team has over 30 years of expertise in cyber-security and enterprise business solutions delivery, making us a very knowledgeable partner to work with. Our research and technology has taken over four years to complete, because we realised that the problem of cyber-fraud prevention needed a whole new approach to bolster banking’s existing defences, and we’re very excited to be leading the way with the development of this new technology.”

    The post The Next Generation of Financial Cyber-Fraud Prevention is Unveiled  appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.

    Fintech Schweiz Digital Finance News – FintechNewsCH

     
  • user 12:19 pm on June 10, 2016 Permalink | Reply
    Tags: , , , , , generation, ,   

    Kreditech and the next generation of Consumer Banking 

    is fundamentally about lending and non-bank lending (whether called AltFi, Marketplace Lending or P2P Lending) is already a mature market. Consumer Banking has taken 73% of investment to date (vs only 10% each for Asset Management) and Insurance) and has had the first IPOs and the first big blow ups. Now we&;Read more and the of Consumer&;Banking
    Bank Innovation

     
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