Los Angeles-based Cathay Bank is poised to implement Los Altos, Calif.-based Guardian Analytics' FraudMAP solution in an effort to protect its customer accounts from Internet banking fraud, according to a press release.
FraudMAP, which features Guardian Analytics' proprietary Dynamic Account Modeling technology, monitors all individual online account holder activity on a session by session basis to detect suspicious actions and flag behaviors inconsistent with predicted account holder behavior, the vendor says. The bank will leverage the solution's behavior-based analytics to enhance the anti-fraud practices it already has in place.
"With larger balances than individuals, business accounts represent an increasingly attractive target to criminals," Terry Austin, president and CEO, Guardian Analytics, said in a press release. "It is no surprise that forward-thinking banks serving business customers are increasingly seeking more robust security for their online platforms."