First Data Taps Trusteer for FFIEC Compliance

by Mercator Advisory Group 0

A recent announcement from Trusteer states that First Data will refer financial institutions clients to Trusteer for risk mitigation services related to online banking compliance with new guidelines from the FFIEC. Evaluations of online banking systems compliance will begin in January. Trusteer currently has 150 financial institution and enterprise clients in North America and Europe.

Trusteer Rapport and Trusteer Pinpoint will help to protect Internet banking sessions from sophisticated Trojans like Zeus, SpyEye, Torpig, and Tatanga that can hijack a user’s browser to commit fraud. Trusteer Rapport provides an easy first step to fight fraud and an on-ramp for a phased deployment of additional Trusteer services that may be part of a financial institution’s layered security program, which is required by the Federal Financial Institutions Examination Council (FFIEC) new Internet authentication guidelines.

“After evaluating the market for a malware risk mitigation partner, we selected Trusteer for its state-of-the-art fraud prevention products and widespread adoption by the world’s leading banks,” said Cindi Lieblich, vice president of product development for First Data. “We are excited about our partnership with Trusteer because they offer end point protection, mobile protection, server based transaction anomaly detection, and risk analysis solutions in one integrated package.”

The Trusteer Fraud Prevention Architecture provides intelligence-based security that is deployed at different layers of online banking processes. The Trusteer service can dynamically adapt to changing threats, deploys very quickly, scales to multiple online banking channels (such as business banking, retail banking and mobile banking), and does not require any changes in the way customers bank online.

“Financial institutions are recognizing that criminals are targeting and compromising their customers’ access devices to commit fraud against their payment processing systems,” said Mickey Boodaei, chief executive officer of Trusteer. “By choosing Trusteer as a secure web access partner, First Data can provide financial institutions with an integrated solution that helps to protect Internet banking sessions from the end-customer’s device all the way to its back-end systems.”

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