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Fox-IT Launches Web and Mobile Event Analytics Platform for U.S. Financial Services Industry
Company will demonstrate DetACT at the 2015 FS-ISAC and BITS Annual Summit solution showcase
May 26, 2015
3 Min Read
PRESS RELEASE
MIAMI and AMSTERDAM, May 14, 2015 – Today, global cybersecurity leader Fox-IT launched its Web and mobile event analytics platform DetACT for the U.S. financial services industry. Fox-IT will demonstrate the new solution to U.S. financial institutions (FIs) for the first time at next week’s FS-ISAC conference in Miami at the solution showcase and booth #23.
DetACT uses an innovative new technology that correlates click-path, event information, traffic information, financial information and historical information in real time. It protects Web and native mobile channels for FIs against both known and unknown threats, identifying and stopping attacks before the money leaves the bank. It provides FIs with 100 percent, click-by-click visibility into every Web and mobile session as it happens, detects anomalies that indicate threats and mitigates attacks, all in real time.
The new information security solution comes from the same team that created InTELL, the company’s industry-leading contextual intelligence platform used by leading banks on four continents, including some of the largest banks in North America.
Already proven in deployments at leading European banks, DetACT is scaled up for the North American market, capable of monitoring and analyzing tens of millions of Web and mobile sessions.
“We have built DetACT on top of our knowledge of the financial and transactional threat landscape,” said Andy Chandler, senior vice president for Fox-IT. “Whether it is criminals manipulating cross-channel attacks, phishing, aggregators, account hijacking, or other anomalies, DetACT flags the behavior betraying these events in real time. It is built by the same team that built InTELL, and of course, it closely integrates. With version 4.0, the product offers the scalability we need to move into the North American market. Our portfolio of satisfied customers and the tens of millions of banking customers we already protect will greatly support our endeavors.”
By analyzing events as they take place, DetACT protects against constantly evolving threats from session hijacking, man-in-the-browser, hybrid attacks, re-directs to phishing sites, cross-channel attacks and other techniques favored by today’s hackers. It is also effective against Dyre and Dridex, the top two financial crime attack toolkit platforms used worldwide in Q1 2015 (based on number of incidents), according to Fox-IT’s contextual intelligence service, InTELL.
Other advantages of DetACT include:
Ø 90 percent productivity increases: Customers report that they solve complex detection problems in minutes instead of days, replacing labor-intensive manual data correlations with mouse clicks, making security analysts far more productive
Ø Fraud loss reductions: Customers report more than 95 percent reductions in fraud
Ø Zero touch: No integration with endpoints or servers is required
Ø Zero latency: No impact on user experience or performance
Although they cannot comment “on the record,” current DetACT customers consistently praise the positive impact DetACT has on their productivity and security.
“We have been using DetACT since 2010,” said the CISO of a large European bank. “We have seen the product evolve from an anti-fraud tool to a productivity suite. We can do things in two clicks that previously cost us hours of correlation. In our daily work, we can’t do without it, and it puts us in control of every situation. DetACT allows you to see everything happening online, and when used in combination with InTELL, it is the key to being truly proactive. With version 4.0, Fox-IT proves they cannot only keep up with the fast evolving landscape, they can lead this space.”
For more information on Fox-IT and DetACT or InTELL, please visit www.fox-it.com, check out DetACT at the solution showcase or stop by booth #23 at FS-ISAC.
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About Fox-IT
Fox-IT, headquartered in the Netherlands, anticipates and solves the world’s cybersecurity challenges, achieved through a strong focus on innovation and a tireless dedication to our clients, our values and our integrity.
Media Contact:
Deb Montner
Montner Tech PR
203.226.9290
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