MONETT, MO., – January 23, 2020 – Jack Henry & Associates, Inc.® (NASDAQ:JKHY), a leading provider of technology solutions and payment processing services primarily for the financial services industry, today announced that it has partnered with NuData Security, a Mastercard® company, to enhance the Banno Digital Platform™ with behavioral security.
As banks and credit unions move toward a more digital experience, it is increasingly critical to minimize risk by accurately identifying real end-users from fraudulent ones. The Banno Digital Platform now features behavioral technology to identify high-risk users in real-time during login. This technology, powered by NuData Security, is available to any financial institution leveraging the Banno Digital Platform, regardless of other card brand affiliations.
By addressing account-specific threats without creating end-user friction, financial institutions can provide a better experience while reducing operational costs. The technology blends enhanced device recognition technology with behavioral analytics, passive biometrics, and a cloud-based trust consortium. NuData Security analyzed 650 billion behavioral data points in 2019 alone, providing some of the world’s biggest brands with the intelligence to verify users before fraud occurs. It leverages machine learning to consistently update modules, signals, and rules with its billions of analyzed data points, blocking over 99% of automated credential-testing and account-takeover attempts. The results help prevent account takeover, credential stuffing, transaction fraud, application fraud, among other threats, and more importantly, increase valid users’ trust and confidence.
Greg Adelson, chief operating officer of Jack Henry, commented, “Cybercrime is more sophisticated than ever and the costs are mounting. With more people moving to digital as their primary point of contact, it’s essential that financial institutions serve them in a way that protects their identity, assets, and loyalty. We’ve found an approach to achieve that balance through behavioral intelligence powered by NuData. Ultimately, this is about responding to what matters most to banks and credit unions: protecting their customer and member relationships.”
Michelle Hafner, senior vice president of NuData Security, said, “As the industry continues to shift to digital and online services, and breaches and cybercrime continue to increase, the bad actors find opportunities to deploy sophisticated attacks that are difficult to detect. In 2019, NuData identified one in every three login attempts as high-risk, reinforcing the need for financial institutions to leverage state-of-the-art technologies that differentiate between valid users and bad actors. This is a great opportunity to help financial institutions protect customers using advanced technologies that don’t impact the user experience.”
NuData Security is a Mastercard company. It helps businesses identify users based on their online interactions and stops all forms of automated fraud. By analyzing over 650 billion behavioral events only in 2019, NuData harnesses the power of behavioral analytics and passive biometrics, enabling its clients to identify the human behind the device accurately. This allows clients to verify users before a critical decision, block account takeover, stop automated attacks, and reduce customer insult. NuData’s solutions are used by some of the biggest brands in the world to prevent fraud while offering a great customer experience.
About Jack Henry & Associates, Inc.
Jack Henry (NASDAQ:JKHY) is a leading provider of technology solutions primarily for the financial services industry. We are an S&P 500 company that serves approximately 9,000 clients nationwide through three divisions: Jack Henry Banking® supports banks ranging from community banks to multi-billion-dollar institutions; Symitar® provides industry-leading solutions to credit unions of all sizes; and ProfitStars® offers highly specialized solutions to financial institutions of every asset size, as well as diverse corporate entities outside of the financial services industry. With a heritage that has been dedicated to openness, partnership, and user centricity for more than 40 years, we are well-positioned as a driving market force in future-ready digital solutions and payment processing services. We empower our clients and consumers with the human-centered, tech-forward, and insights-driven solutions that will get them where they want to go. Are you future ready? Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company’s financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company’s SEC filings that may cause actual results to differ materially from any forward-looking information.
*** This is a Security Bloggers Network syndicated blog from NuData Security authored by Yash Chaurasia. Read the original post at: https://nudatasecurity.com/press/jack-henry-partners-with-nudata/