Fox-IT Expands Financial Platform to US

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Fox-IT has launched its Web and mobile event analytics platform DetACT, for the US financial services industry.

Already deployed in Europe, the company has expanded the platform to North America. DetACT correlates click-path, event information, traffic information, financial information and historical information in real time, with the aim of protecting web and native mobile channels for financial institutions (FIs) against both known and unknown threats.

The biggest challenge for FIs when it comes to cybersecurity is identifying and stopping attacks before the money leaves the bank. DetACT thus provides click-by-click visibility into web and mobile sessions as they happen, detects anomalies that indicate threats, and mitigates attacks.

 “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, in a statement. “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.”

The hope, of course, is that by analyzing events as they take place, FIs can get a jump on the 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.

“We have been using DetACT since 2010,” said the CISO of one 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.”

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