Arcot Enhances FFIEC-Compliant Multi-Factor Authentication Solutions.Partnership with Quova Adds Real-Time Geolocation to Arcot's Risk Management Options SUNNYVALE, Calif. -- Arcot Systems, Inc., a leading provider of multi-factor authentication, credential management, and digital signature solutions, today announced a partnership with Quova, Inc., the authority on IP Intelligence and leading provider of Internet geolocation data and services, to deliver enhanced authentication capabilities for financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. enterprises. Quova's GeoPoint[TM] service has been integrated with the Arcot[R] RiskFort[TM] risk management product to provide the geographic location and connection data of Internet users. RiskFort measures the fraud potential of every online transaction and is part of Arcot's suite of FFIEC-compliant multi-factor authentication solutions. The partnership with Quova gives RiskFort customers the option of using Quova's proprietary mapping of the 1.4 billion IP addresses on the Internet as an additional layer of risk management and protection against online fraud. Arcot's risk management technology has been delivering years of demonstrable results in its 3-D Secure(TM) business, saving a major bank $600,000 in the first two months of use by reducing fraudulent credit card transactions. This technology is delivered as part of our RiskFort solution which is being deployed at several major financial institutions protecting their online banking customers and enabling them to comply with the FFIEC FFIEC Federal Financial Institutions Examination Council mandate. With internet fraud A crime in which the perpetrator develops a scheme using one or more elements of the Internet to deprive a person of property or any interest, estate, or right by a false representation of a matter of fact, whether by providing misleading information or by concealment of increasing in frequency and sophistication so·phis·ti·cate v. so·phis·ti·cat·ed, so·phis·ti·cat·ing, so·phis·ti·cates v.tr. 1. To cause to become less natural, especially to make less naive and more worldly. 2. , financial institutions need stronger authentication capabilities. Arcot has a spectrum of authentication solutions that can be deployed individually or in total, including: * Risk assessment for validating user identity based on behavior characteristics * Mutual authentication Mutual authentication or two-way authentication refers to two parties authenticating each other suitably. In technology terms, it refers to a client or user authenticating themselves to a server and that server authenticating itself to the user in such a way that both using a personal assurance message for site identification * Keystroke logging Keystroke logging (often called keylogging) is a diagnostic tool used in software development that captures the user's keystrokes. It can be useful to determine sources of error in computer systems and is sometimes used to measure employee productivity on certain clerical protection with Arcot's patented, virtual "scrambled PIN Pad" * Two-factor authentication The use of two independent mechanisms for authentication; for example, requiring a smart card and a password. The combination is less likely to allow abuse than either component alone. See authentication. using the patented ArcotID[R] software smart card * Document encryption, secure electronic document delivery, signing with digital IDs. "Arcot is a world leader in multifactor authentication Using two or more forms of identification to authenticate a user. Single factor authentication, which is commonly used, employs a unique username and password combination. For more security, multifactor authentication adds at least one more form, such as a physical token or biometrics. solutions for the financial services industry, and we're delighted to be partnered with them," said Gary Jackson, COO of Quova. "Arcot's integration of GeoPoint into its industry-leading RiskFort product will bring IP Intelligence online for banks all over the world. We expect this partnership to have an immediate and powerful market impact." Arcot's RiskFort examines the characteristics of each online transaction using device ID, IP address, time and frequency of access, and the amount and type of transaction. Quova enhances the analysis by providing geographic information for each IP address including continent, country, region (US only), time zone, state, city, postal code Noun 1. postal code - a code of letters and digits added to a postal address to aid in the sorting of mail postcode, ZIP code, ZIP code - a coding system used for transmitting messages requiring brevity or secrecy , longitude/latitude and phone prefix (US and Canada only). RiskFort uses this data to score the potential for fraud for every online transaction. Organizations set their own risk threshold for a range of response options, based on the risk score. The responses range from allowing a transaction, to prompting for additional information, to escalating to a customer service representative, to real-time blocking. "Arcot is dedicated to helping our banking customers comply with FFIEC guidelines and provide a safe, simple experience for their users. With RiskFort, banks can reduce the risk of online fraudulent access and improve customer satisfaction," stated R. 'Doc' Vaidhyanathan, Vice President of Product Management for Arcot. "Quova is a world leader in geolocation and our customers will benefit greatly from Quova's expertise. Incorporating Quova's service into RiskFort gives organizations the ability to add specific geographic location criteria to their risk management application." To learn more, visit our web site at www.arcot.com. About Arcot Systems Arcot Systems is a leading provider of secure e-payment, strong authentication, credential management, and digital signature software solutions. The company's cost-effective and highly scalable software-based authentication products limit online transaction fraud and enable advanced functionality such as the turn-key issuance of roaming credentials and secure electronic document exchange. Arcot's products meet the need for strong, multi-layered transactional security while providing customers with a seamless, user-friendly experience. The company's offerings are compliant with U.S. and international standards including 3-D Secure, IdenTrust, SAFE and FFIEC Internet Banking Authentication recommendations. Enterprises also work with Arcot to meet legislative requirements such as Sarbanes-Oxley and HIPAA (Health Insurance Portability & Accountability Act of 1996, Public Law 104-191) Also known as the "Kennedy-Kassebaum Act," this U.S. law protects employees' health insurance coverage when they change or lose their jobs (Title I) and provides standards for patient health, . Over 11,000 card-issuing banks and 25,000 online merchants and other enterprises use Arcot to protect the identities of millions of consumers worldwide. For more information, visit www.arcot.com. About Quova, Inc. Founded in 2000, Quova, Inc. is the leading provider of IP Intelligence and Internet geolocation services to online businesses, including five of the world's six largest global Internet companies. Quova's patented technology provides the geographic location and connection data of website visitors in real time, enabling thousands of enterprises worldwide to detect fraud, manage digital rights, target content, conduct site analysis and ensure regulatory compliance. Quova's customers and partners include such industry leaders as Major League Baseball "MLB" and "Major Leagues" redirect here. For other uses, see MLB (disambiguation) and Major Leagues (disambiguation). Major League Baseball (MLB) is the highest level of play in North American professional baseball. Advanced Media, BBC BBC in full British Broadcasting Corp. Publicly financed broadcasting system in Britain. A private company at its founding in 1922, it was replaced by a public corporation under royal charter in 1927. , Bell Canada, Cisco Systems, Coremetrics, Corillian, Globo, Bankinter, Times Online and Sky Sports. A privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. with investments from Mobius Venture Capital, IDG IDG International Data Group IDG Integrated Drive Generator IDG Installation Design Guide IDG Internet Discussion Group IDG Inset Dielectric Guide IDG International Dangerous Goods (mail, shipping) Ventures, Nexus Group and Schoffstall Ventures, Quova is headquartered in Mountain View, California For the census-designated place, see Mountain View, Contra Costa County, California. For other places called "Mountain View", see . Mountain View is a city in Santa Clara County, in the U.S. state of California. The city gets its name from the views of the Santa Cruz Mountains. (T:650.528.3700) with European headquarters in Amsterdam, The Netherlands (T:31.20.888.45.30). Visit Quova online at www.quova.com. |
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