Jack Henry partners up with NFACU winner NuData to help banks and credit unions fight fraud
Jack Henry and NuData Security have partnered to enhance the Banno platform, providing financial institutions with behavioral security without causing friction for digital end users.
June 2020 finished up with good news for those financial institutions looking to access behavioral a security solution through Jack Henry. The leading provider of financial institution security solutions and NuData Security have formed a partnership to provide all of Jack Henry’s Banno digital platform users access to an award-winning passive biometrics and behavioral analytics technology.
A recent winner of NAFCU’s Innovation Award, NuData’s relentless work in the financial space is helping institutions keep their environments protected from evolving threats while giving customers a good user experience. NAFCU’s (National Association of Federally-Insured Credit Unions) Innovation Award honors NuData’s transformational and valuable contributions to the credit union industry.
This security push comes at the right time: last year closed with 7,098 data breaches that exposed over 15 billion user credentials (RiskBased Security). The stolen credentials and personally identifiable information are available on the dark web for schemes such as account takeover and credential stuffing attacks.
Greg Adelson, chief operating officer of Jack Henry, agrees that “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.”
Michelle Hafner, senior vice president of NuData Security, welcomes this partnership as “a great opportunity to help financial institutions protect customers using advanced technologies that don’t impact the user experience.” “Ultimately, Gregg added, this is about responding to what matters most to banks and credit unions: protecting their customer and member relationships.”
Jack Henry is an S&P 500 company that serves approximately 9,000 enterprise 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. NuData’s solution enhances the Banno Digital PlatformTM.
NAFCU Services President Randy Salser took the Innovation award as an opportunity to celebrate the advancement in security for credit unions; “It’s great to see our partners rallying around credit unions to help them serve even more members in new and innovative ways.”
The post Jack Henry partners up with NFACU winner NuData to help banks and credit unions fight fraud appeared first on NuData Security.
*** This is a Security Bloggers Network syndicated blog from NuData Security authored by Magali Vander Vorst. Read the original post at: https://nudatasecurity.com/resources/blog/jack-henry-partners-up-with-nfacu-winner-nudata-to-help-banks-and-credit-unions-fight-fraud/
