Fox-IT: Protecting Financial Institutions From Cyber Threats

May 14, 2015

7:30 am

Fox-IT, a global cybersecurity leader, today launched their web and mobile event analytics platform DetACT for the US financial services industry. This new platform will be live demoed for the first time at next week’s FS-ISAC conference in Miami.

DetACT uses an innovative technology that correlates click-path, event information, traffic information, financial information, and historical information in real time. It also protects web and native mobile channels for financial institutions against both known and unknown threats.

By providing these institutions with click by click visibility into every web and mobile session as it’s happening they can detect anomalies that indicate threats and subsequently mitigate attacks. Before money ever leaves the bank everything is identified and stopped.

“We have built DetACT on top of our knowledge of the financial and transactional threat landscape,” says Andy Chandler, SVP 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.”

Chandler also tells us that the DetACT platform was built by the same team that built InTELL, a contextual intelligence platform used by leading banks on four continents, which 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,” says Chandler.

There are a host of advantages that DetACT offers clients:

  • Dyre and Dridex: It’s effective against these platforms, which are considered the top two financial crime attack toolkits currently in use across the world
  • 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
  • Fraud loss reductions: Customers report more than 95 percent reductions in fraud
  • Zero touch: No integration with endpoints or servers is required
  • Zero latency: No impact on user experience or performance

If you’re interested in meeting the team and seeing the product live-showcased, Fox-IT will be at booth 23 at FS-ISAC.

Image Credit: Wikipedia 

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Will is a Senior Writer with Tech.Co, based out of America’s Finest City: San Diego. He covers all territory West of the Mississippi river, digging deep for awesome local entrepreneurs, companies, and ideas. He’s the resident Android junkie and will be happy to tell you why you should switch to the OS. When he’s off the clock, Will focuses his literary talent on the art of creative writing…or you might find him surfing in Ocean Beach.

Follow Will on Twitter @WJS1988

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