Gemalto’s Ezio Fights Fraud for Future Online Banking Risks

April 30, 2015         By: Kevin Xu

Gemalto is making a greater push into the US market with its introduction of the Ezio Dynamic Fraud Manager.

Targeting financial institutions and the online banking channel, Ezio sits between the consumer and the bank, analyzing indicators for threats of fraud.

 

Gemalto Ezio Dynamic Fraud Manager 2

 

According to Håkan Nordfjell, Senior Vice President of e-Banking and e-Commerce at Gemalto, the solution is based on “multi-layer security,” where markers such as location, device type, operating systems, and other factors contribute to user authentication.

Keeping with this multi-layer approach, Gemalto is also partnering with NCR to incorporate its Fractals fraud detection solution into Ezio.

Financial institutions using the Ezio Dynamic Fraud Manager can set their own rules which can be parsed during the transaction process and customize it as they see fit.

Taken together, if something is out of the ordinary during a transaction, it can trigger Ezio to request extra authentication as defined by the bank from the user as needed, stepping up security without creating greater friction for the end-user.

As the US transitions to EMV, Nordfjell says that “there needs to be greater communication” between the EMV and online banking leaders within financial institutions.

Europe served as an example of what would happen in the US when EMV is widely adopted. The rate of online fraud increased when stealing payment cards became less viable and profitable.