Vasco acquires Risk IDS to expand authentication portfolio

Wednesday 28 May 2014 09:47 CET | News

Swiss-based authentication and e-signature services provider Vasco Data Security International has entered into an agreement to purchase Risk IDS, a provider of risk-based authentication solutions to the global banking community.

Following the acquisition, Vasco will integrate Risk IDS’ risk-based authentication technology into future product offerings.

Risk IDS provides online transaction risk management and intelligent authentication decision solutions. The core technology is a Dynamic Challenge Platform which is designed to evaluate the profile of the user requesting access to the system to determine the risk profile associated with the transaction. It features an analysis engine that uses rules and statistical techniques to improve fraud detection.

Risk-based authentication provides a more flexible process of authentication to ensure higher risk profiles result in stronger challenges. It allows the application to request additional credentials when the risk level is higher. Contextual information that may be used in risk-based authentication includes user location, device characteristics, transaction amount and other factors. This method ensures that the appropriate level of authentication is applied to ease the process when only a lower level of security is needed. It will transparently apply more stringent methods when necessary to prevent fraud.

Financial terms of the transaction are not being disclosed. The acquisition is not expected to have a material impact on VASCO’s 2014 financial results.

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Keywords: Vasco Data Security International, online authentication, Risk IDS, online fraud, risk
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime