State Employees' Credit Union Selects Corillian for Complete Fraud Prevention and Strong FFIEC-Compliant Online Authentication; SECU Leverages Corillian's Fraud Prevention Platform to Combat Phishing and Other Forms of Online Fraud.PORTLAND, Ore. -- Corillian Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CORI), the top provider of online banking, online payments and anti-fraud solutions to the 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. industry, today announced that State Employees' Credit Union (SECU SECU State Employees Credit Union of Maryland SECU Security Financial Group, Inc. SECU Saginaw Eaton Credit Union (Saginaw, Michigan) SECU Standard Electronic Control Unit ), a $12 billion credit union headquartered in Raleigh, N.C. and the second largest credit union in the U.S., has selected Corillian as its partner to protect the financial assets Financial assets Claims on real assets. of its 1.2 million members with industry proven anti-fraud technology -- the Corillian Fraud Detection System and Intelligent Authentication (1) Verifying the integrity of a transmitted message. See message integrity, e-mail authentication and MAC. (2) Verifying the identity of a user logging into a network. (TM). The Corillian Fraud Detection System, when used in combination with Intelligent Authentication, offers financial institutions a powerful, layered line of defense against fraud at all stages of its lifecycle. SECU selected Corillian's fraud prevention and authentication technologies for their innovative approach to authentication and proactive security, involving around the clock analysis, and reporting and intervention of suspicious activity. The partnership will enhance SECU's overall fraud prevention strategy and give its members peace of mind when conducting online financial transactions. "Our partnership with Corillian began in 1998 with the integration of the Corillian Voyager platform, followed by the deployment of the company's leading payments solution," said Rick Rhoads, SVP SVP S'il Vous Plaît (French: Please) SVP Senior Vice President SVP Schweizerische Volkspartei (Swiss People~s Party) SVP Society of Vertebrate Paleontology SVP Social Venture Partners SVP St Vincent de Paul of eServices for SECU. "Corillian has a vested interest Vested Interest A financial or personal stake one entity has in an asset, security, or transaction. Notes: For example, if you have a mortgage, your bank has a vested interest on the sale of your house. See also: Right in developing secure solutions and we feel that it's extremely important to provide a secure, user-friendly online channel for our growing membership. With the continued threat of online fraud, we recently deployed the Corillian Fraud Detection System and have been more than pleased with the intelligence it provides relative to online threats. After significant industry research, we selected Intelligent Authentication for its ability to provide strong, FFIEC-compliant authentication without compromising our member experience and convenience of our online platform." The Corillian Fraud Detection System is proven to proactively combat phishing and other types of fraudulent behavior. The solution analyzes the Web traffic of the protected institution using a technique called Preemptive pre·emp·tive or pre-emp·tive adj. 1. Of, relating to, or characteristic of preemption. 2. Having or granted by the right of preemption. 3. a. Forensics See computer forensics. (TM) to identify suspicious behavior on the Web site. The Corillian Fraud Detection System is able to detect activity on the Web server indicative of the early stages of fraud, including phishing attacks, when attackers are copying images or linking to them from the phishing site or spam e-mail. Such activity can often be traced to its source, stopping the attack before any costly damage to the end user or institution occurs. Intelligent Authentication is a non-intrusive, highly effective method of multi-layered authentication that satisfies the recent FFIEC FFIEC Federal Financial Institutions Examination Council guidelines for stronger authentication. In addition to a user name and password, Intelligent Authentication collects and examines multiple patterns of online banking to determine when it is necessary to block or challenge suspicious visitors. This multi-layered authentication model is transparent to the end user and provides a user-friendly experience, while ensuring visitors to a Web site are legitimate before allowing users access to their banking accounts. "Our commitment to securing the online banking channel is backed by the unrivaled results from deploying Corillian's Fraud Detection System and Intelligent Authentication technologies at many leading financial institutions," said Alex Hart, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Corillian. "We applaud SECU's approach to proactive security prevention and look forward to helping protect the interests of its members from security threats today and in the future." About State Employees' Credit Union SECU is a non-profit financial cooperative owned by its members. SECU has been providing the employees of the State of North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. and their families with consumer financial services for over 65 years. With nearly $13 billion in assets and over 1.2 million members, SECU is the second largest credit union in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . SECU provides services to members through 192 branch offices, over 860 ATMs, a call center and a website -- www.ncsecu.org. About Corillian Corporation Corillian is the market leader of online banking, bill payment and fraud prevention applications to the financial services industry. Corillian's fraud prevention solutions use Preemptive Forensics(TM) to protect web sites from phishers, hackers, and fraudsters. Corillian's strong authentication solution provides a low-cost solution for multi-factor authentication while maintaining high user satisfaction. With 28 of the top 100 U.S. banks and 20 of the top 100 U.S. credit unions as customers, Corillian serves over 25 percent of the online banking community. Corillian provides the most flexible, scalable and secure set of online banking applications across multiple lines of business, integrating best-practice functionality developed for some of the most innovative financial institutions in the world. Corillian features integrated applications across Consumer Banking, Small Business Banking, Wealth Management, Credit Card Management, and Corporate Cash Management, as well as enterprise wide solutions, including Fraud Detection, Payments Warehouse, Alerts, eStatements, and OFX OFX Open Financial Exchange OFX Outer Fix OFX Open Effects . Empowered by Corillian solutions, some of the world's most visionary financial institutions provide their customers with the tools to manage their finances more effectively and securely. For more information about Corillian Corporation, visit the company's Web site at http://www.corillian.com. |
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